Market Bulletin LCU/10/01/008 UNITY BANK PLC ... of...Compliance, LRD Page 1 Market Bulletin...

Compliance, LRD Page 1

Market Bulletin LCU/10/01/008

UNITY BANK PLC

January 10, 2014

Appointment of Managing Director/CEO

Unity Bank Plc has notified the Nigerian Stock Exchange of the appointment of Mr. Henry James

Semenitari as the bank’s new Managing Director/CEO.

Aged 50, Mr. Henry James Semenitari holds a Bachelor of Science Degree in Chemical Engineering

from the University of Lagos and a Master in Business Administration (MBA) from International

Graduate School of Management, University of Navara (I.E.S.E) Barcelona, Spain. He is an

alumnus of the Harvard Business School, Advance Management Programme (AMP173) in Boston,

United States of America. He is also an alumnus of Cambridge Judge Business School, Advanced

Leadership Programme (ALP 1), Cambridge University, Cambridge, UK.

Mr. Henry James Semenitari has over 22 years banking experience in Operations, Internal

Control, Branch Management, Credit and Marketing, Commercial and Retail Banking, Consumer,

Corporate Banking (Energy) etc. acquired in banks such as Zenith, Diamond, United Bank for

Africa, ACB International Bank and Continental Trust Bank. He also held senior Management

positions in UBA Plc as an Assistant General Manager – Commercial and Retail Banking Group,

General Manager (Credit and Marketing) in ACB International Bank Plc, Acting Managing

Director/CEO, ACB International Bank Plc and Executive Director (Business Development) in

Continental Bank Limited, Afribank Nigeria Plc in May 2003 as General Manager in charge of

Consumer and Retail Banking business with responsibility of supervising and development of

business activities across the entire 150 branch network, before joining First City Monument Bank

Plc in November, 2005 as Executive Director Retail and Enterprise Banking with responsibility for

developing and growing retail and enterprise banking business across the entire branch network.

A position he held till December 2010.

Mr. Semenitari’s recognized strengths are in Business Process Re-engineering and Design with

specialization in Strategic Process Enterprise Management, and Integration of Business process

models with Information Technology to drive business at Product and Strategic business unit

levels. In addition to these, he had development and implementation experience of major

Banking Applications such as Micro Banker/Flexcube, Phoenix, Bank Master, SAP (Systems

Application and Product), Globus and Finacle Banking Application etc.


He is a Director and Board member of SWAP Technologies and Telecomms Plc, one of Nigeria’s

leading Telecommunication Service Providers and AMERICAN INTERNATIONAL INSURANCE

COMPANY (AIICO) PLC.

Mr. Henry James Semenitari is married with children.

Josephine Igbinosun



UNITY BANK PLC

January 10, 2014

Appointment of Executive Director

Unity Bank Plc has notified the Nigerian Stock Exchange of the appointment of Mr. Abubakar

Abba Bello as an Executive Director of the bank

Born on November 5, 1966, Mr. Abubakar Abba Bello had his early education at Capital School,

Kaduna in 1978 and King’s College Lagos in 1983. He obtained B.Sc Accounting, Ahmadu Bello

University, Zaria in 1989 and is currently pursuing MBA (University of Liverpool).

Mr. Abubakar Abba Bello has 23 years cognate experience in Banking with numerous Nigerian

Banks rising up to be the Managing Director/CEO of United Bank for Africa, Zambia. His work

career has taken his across different organisations as below:

April, 2013 to date:

General Manager and Group Head, Corporate Banking, Mainstreet Bank Limited

July 15, 2009 to December 2012:

Managing Director/CEO, United Bank for Africa Zambia Limited

July 14th 2008 to July 10, 2009:

General Manager, Access Bank Plc; Regional Head, Abuja Public Sector & Commercial

Banking

April 2008 to July 2008:

Managing Director/CEO, United Bank for Africa Plc Tchad; Obtained the first Banking

License for a Nigerian Bank in Tchad; Pioneer Managing Director/CEO.

July 2007 to April 2008

Regional Director, UBA PLC Abuja Region

June 2006 to July 2008

Regional Director, UBA Plc Apapa Region, Lagos. Managed 12 branches of the merged

Standard Trust Bank and United, Bank for Africa Plc.

August 2005 to June 2006 Group Head, Telecoms & Tech Corporate Banking, UBA Plc

June 2004 to August 2005 Zonal Head, Standard Trust Bank Plc, Apapa, Lagos

November 2003 to June 2004 Group Head Conglomerates and Manufacturing, Corporate Banking, Standard Trust Bank Plc


April 2002 – October 2003 Chief Marketing Officer, North, Standard Trust Bank Plc

October 2000 to February 2002 Divisional Director, Savannah Bank of Nigeria Plc, Northern Region

April 2000 to October 2000 Regional Head, North Continental Trust Bank Ltd, Kano

April 1999 to April 2000 Head, Public Sector, Continental Trust Bank Ltd, Abuja

October 1995 to April 1999 Head, Corporate Banking and Energy, MBCOM/Continental Trust Bank Ltd

February 1991 – October 1995 Credit Marketing Dept, Manufacturers Merchant Bank Ltd

October 1990 to February 1991 Accountant, BHI Holdings Limited

October 1989 to September 1990 Audit Trainee, Muhtari Dangana & Co (Chartered Accountants)

He is a member of the Chartered Institute of Banking of Nigeria and has attended many courses

and seminars both local and international. Mr. Bello is married with 4 children.

Josephine Igbinosun



UNITED BANK FOR AFRICA PLC

January 10, 2014

Changes to the Board of United Bank for Africa Plc

United Bank for Africa Plc (UBA Plc) has notified The NSE that its Board of Directors’ meeting held

on Monday, December 16, 2013 approved the resignation of Ms Angela Aneke as a Non-

Executive Director and the retirement of Mr Emmanuel N. Nnorom as an Executive Director of

the Bank respectively effective December 31, 2013.

In addition, the Board of the Bank has also approved, subject to CBN approval, the appointment

of Mr Emmanuel N. Nnorom as a Non-Executive Director of the bank effective December 31,

2013.

JOSEPHINE IGBINOSUN



UNITY BANK PLC

January 10, 2014


Unity Bank Plc has notified the Nigerian Stock Exchange of the appointment of Ms Arese Alonge

as an Executive Director of the bank.

Ms Arese Alonge had her high school education at Queens College, Lagos in 1983 and obtained

her BA. in 1988 from the University of Benin. She further obtained an MA in 1998 from the

University of Lagos and is an MBA holder from Lagos Business School (2003).

PROFESSIONAL EXPERIENCE

ACCESS BANK PLC. (March 2004 – November 2013)

Group Head, Financial Institutions (2011 - 2013)

(General Manager January 2013 –November 2013)

(Deputy General Manager 2007-2012)

Regional Head, Access Bank, Apapa. (2007 - 2010)

(Assistance General Manager 2005 -2007)

Group Head Financial Institutions (2004 - PUBLIC SECTOR 2007)

(Senior Manager 2004 -2005)

GUARANTY TRUST BANK PLC (1993 - 2004)

Regional Head, Ikeja/Mainland Public Sector; (Manager 2002 - 2004)

Team Lead, Commercial/Retail Banking (2000 - 2002)

Deputy Manager (2000 – 2002)

Assistant Banking Officer/Account Officer (1994 - 2002)

Commercial/Retail Bank. (1994 - 2002)


Customer Service Officer (1993 - 1994)

LONDON BOROUGH OF ISLINGTON UK (1989 – 1992)

Business Rates and Community Charge Officer

NATIONAL YOUTH SERVICES CORPS (1988 – 1989)

ELF NIGERIA LIMITED, LAGOS

Relations and Corporate Affairs Officer

She has attended many courses, seminars and workshop both within and outside the country.



WEMA BANK PLC

January 15, 2014

Resignation of a Director

Wema Bank Plc has notified The NSE of the resignation of one of its Non-Executive Directors;

Chief Opeyemi Olusola Bademosi effective Tuesday, December 31, 2013.

Chief Bademosi was appointed to the Board of Wema Bank Plc in May 2009 as a Non-Executive

Director representing the interest of SW8 Investment Limited and has served on the Board of the

Bank for four and half years.

JOSEPHINE IGBINOSUN



DANGOTE SUGAR REFINERY PLC

January 15, 2014

Resignation and Appointment of Directors

Dangote Sugar Refinery Plc has notified The Nigerian Stock Exchange that sequel to its Board of

Directors’ meeting held on Tuesday, 31st December, 2013; it has accepted the resignation of Mr

Suleiman Olarinde, a Non-Executive Director from the Board of the company. The Board also

appointed Mrs Maryam Bashir as a Non-Executive Director of the company both effective 31st

December, 2013.

Mrs Maryam Bashir

Mrs. Maryam Bashir has 17 years of financial and banking experience. She holds BSc in Business

Administration from Ahmadu Bello University, Zaria (1979 - 1983) before obtaining her Master of

Business Administration (MBA) in Finance from University of Jos – 1988 - 1990.

She commenced her working career as an Assistant Supervisor, Operations Department,

International Merchant Bank Ltd (IMB) and rose to the post of Supervisor (1985 - 1991). From

1991 to 1993 she was the Executive Director with Asset Management Group Ltd. Between 1993

and 1994, Mrs Maryam was Consultant on Credit Transactions and Investments Ltd (CTIC).

Mrs. Bashir joined the United Bank for Africa Plc (UBA) (1994 – 2004) and has occupied various

positions ranging from; Assistant General Manager, Deputy General Manager, General Manager

and Executive Director respectively.

She is a Board member of several Organisations among which are; Information Connectivity

Solutions Ltd (ICSL), Enow-now Ltd, Cardinal Stone Partners Ltd, Founding Member, Women in

Management and Business (WIMBIZ) and Founder, Let’s Save A Life Foundation.

She was the Chief Executive Officer with CreditCorp Limited prior to this appointed (2004 to

date).

JOSEPHINE IGBINOSUN




GLAXOSMITHKLINE CONSUMER NIGERIA PLC

January 15, 2014

Appointment of Assistant Company Secretary

GlaxoSmithKline Consumer Nigeria Plc has notified The Nigerian Stock Exchange of the

appointment of Mr. Olaleye Dada as the Assistant Company Secretary of the company.

Born on 22nd November 1975, Mr. Olaleye Dada attended Ogba Grammar School, Ogba Lagos

(1993) where he obtained the Senior School Certificate. In 2000, Mr. Dada obtained LLB (Hons)

from the University of Lagos and attended the Nigerian Law School, Abuja for his B.L (Hons) in

2002.

He was as an Intern at Olaniwun Ajayi & Co. Lagos (September – October 1999) and Law School

Attaché at Oladipo Opanubi & Co. (May – June 2001). From Mar 2002 – September 2003 he was a

Solicitor at PAC Solicitors, Lagos and from October 2003 – December 2003 he was a Research

Assistant at Feband Consults, Lagos. Mr. Olaleye Dada moved over to Kajola Chambers as a

Solicitor and was there between January 2004 – September 2004 and became a Counsel at

Nwabu Okoye & Co. between October 2004 – February 2005. He joined Oladipo Opanubi & Co. as

Senior Associate from March 2005 – November 2007 and Firstlaw Solicitors from December 2007

– May 2009 as Senior Associate. Mr. Dada joined GlaxoSmithKline Consumer Nigeria Plc and

worked as Compliance Support Manager between May 2009 – June 2010. He was elevated to

Legal & Compliance Services Manager in July 2010; a position he held until this appointment.

Mr. Olaleye Dada is a member of the Nigerian Bar Association and is married.

JOSEPHINE IGBINOSUN



CHEMICAL & ALLIED PRODUCTS (CAP) PLC

January 15, 2014

Appointment of New Company Secretary

Chemical & Allied Products Plc has informed The Nigerian Stock Exchange of the appointment of

Mrs. Rose Joshua Hamis as its new Company Secretary and the resignation of Mr. Godwin A.

Samuel with effect from January 1, 2014.

Hamis was born on 21st February 1971. She holds a Bachelor of Law (LLB) degree from Ahmadu

Bello University Zaria and BL from the Nigeria Law School Bwari Abuja in 1999. She obtained her

Master’s Degree in Law from University of Lagos in 2013. She is an Associate Member of the

Institute of Chartered Secretaries and Administrators, London and Nigeria.

Hamis started her working career as a Legal Officer and Assistant to the Company

Secretary/Corporate Affairs Manager of Costain (West Africa) Plc from 2001 to August, 2004 and

joined UACN Property Development Company Plc (UPDC) as a Manager, Registrar of Titles from

September 2004 to January 2006. She was a legal adviser of UPDC from January to June 2006 and

was later transferred to the Group Legal Department of UACN Plc in January 2007 as Litigation &

Claims Manager. She became the Secretary Services Manager in July 2011 and in that capacity,

she is the Company Secretary to MDS Logistics Limited, UAC Restaurants Limited, Warm Spring

Waters Nigeria Limited, Spring Waters Nigeria Limited, UPDC Hotels Limited and Unico CPFA

Limited.

Hamis was appointed the Company Secretary to Chemical and Allied Products Plc in December,

2013. She was formerly Company Secretary of UAC Registrars Limited and Opticom Leasing

Company Limited. She is married with Children.

JOSEPHINE IGBINOSUN



UNITED BANK FOR AFRICA

January 15, 2014

Notice of Board Meeting

United Bank for Africa Plc (UBA PLC) has notified The Nigerian Stock Exchange that its Board

meeting earlier scheduled to hold on Thursday, February 13, 2014 has rescheduled to now hold

on Friday, February 7, 2014.

The Bank apologises for the inconveniences this might cause.

JOSEPHINE IGBINOSUN



GLAXOSMITHKLINE PLC

January 15, 2014

Changes on the Board

GlaxoSmithKline Consumer Nigeria Plc (‘’the Company’’) has notified The Nigerian Stock Exchange

that at its Board of Directors’ meeting held on Friday, 10th January 2014 the resignations of Mr

Chidi Okoro as Managing Director and Mr Andries Van Rooijen as Director of the Company

effective March 15, 2014 and December 31, 2013 respectively, were accepted by the Board.

The Company has also appointed Mr Justin Korte as a Director/the General Manager of the

Company effective January 10, 2014.

Mr Justin Korte, a South African, holds an IMM Diploma from Wits Technikon and a B-Tech

Marketing at IMD College.

Mr Korte started his working career as Sales Representative at Smollans from 1996 to 1998. He

joined Gillette as Sales Representative in 1998 where he occupied various positions ranging from:

Key Account Manager Independent Accounts (1999), Regional Sales Manager, Kwazulu Natal

(2000), Regional Sales Manager, Inland (2001) and National Sales Manager (2003 – 2007).

He Joined GlaxoSmithKline as a National Sales Manager in 2005 occupying several positions - PnP

National Account Manager (2007); Modern Trade Channel Manager (2007 – 2008), and became

the Managing Director, National Pharmacy Agency (50% owned by GSK in 2008). He was the

Group Country Manager, Sub-Saharan Africa of GSK from 2008 – 2011 and before this

appointment he has been the Sales Director, South Africa (2011 – date).

Mr Korte is 38 years of age and speaks Afrkaans and English.

JOSEPHINE IGBINOSUN



EQUITY ASSURANCE PLC

January 16, 2014

Appointment of new External Auditor

Equity Assurance Plc has notified The NSE that it has appointed BDO Professional Services as its

new External Auditors effective January 1st, 2014.

This appointment becomes imperative as a result of the provisions of Section 8 (iii) of the

National Insurance Commission (NAICOM) code of Corporate Governance which stipulates the

tenure of appointment of External Auditors.

JOSEPHINE IGBINOSUN



GUARANTY TRUST BANK PLC

January 17, 2014


Guaranty Trust Bank Plc (GT Bank Plc) has notified The Nigerian Stock Exchange (‘’The NSE’’) that

its Board of Directors has scheduled to meet on Wednesday, January 29, 2014, to consider the

Audited Financial Statements for the year ended December 31, 2013. Issues relating to full year

dividend may be discussed at the meeting, according to the bank.

However, the Bank has stated that the release of the Audited Accounts on the floor of The

Exchange will be subject to the approval of the Accounts by the Central Bank of Nigeria (CBN).

JOSEPHINE IGBINOSUN



VITAFOAM NIGERIA PLC

January 17, 2014


Vitafoam Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors has

scheduled to meet on Tuesday, January 21st, 2014, to consider the Audited Financial Statements

for the year ended 30th September, 2013.

The directors are also expected to discuss the recommendation of dividend for the financial year

under consideration as well as to convene the Annual General Meeting.

JOSEPHINE IGBINOSUN



AFROMEDIA PLC

January 20, 2014

Appointment of Acting Chairman

Afromedia Plc has notified The Nigerian Stock Exchange of the appointment of Engr. Patrick Osita

Nwabunie as the Acting Chairman of the Company. The appointment of Mr. Nwabunie is an

interim measure pending the appointment of a substantive Chairman and new Non-Executive

Directors.

JOSEPHINE IGBINOSUN



FCMB GROUP PLC

January 20, 2014

Retirement and Appointment of new Company Secretary

FCMB Group Plc has notified The Nigerian Stock Exchange of the retirement of its Company

Secretary, Mrs. Olajumoke Bakare from the services of the company effective January 1, 2014.

Pursuant to her retirement, the Board of the Company has appointed Mrs. Olufunmilayo Adedibu

as the new Company Secretary effective January 1, 2014.

Olufunmilayo Adedibu is a lawyer with wealth of experience in Legal practice and Banking. She

started her legal career after her compulsory National Youth Service Corps with the Law firm of

Chris Ogunbanjo and Co where she garnered a lot of experience in Copyrights and Patent Laws.

While at the law firm, she represented numerous corporate International organizations doing

business in Nigeria before she joined the banking industry.

She has over 17 years banking experience spanning Corporate Banking, Commercial Banking, Risk

Management, Banking Operations and currently Group Legal Services Department.

WORK EXPERIENCE

First City Monument Bank Plc - September 1999 to date:

Vice President, (Equivalent of Deputy General Manager) Group Legal Services

Department:

Deputizes for the General Counsel/ Company Secretary

Head: Legal Services- Oversees all legal issues in the bank.

Acts as Company Secretary to Sub Group member companies.

Finbank Plc (Fully acquired company by FCMB): January 2012 to date November 2012:

Seconded by FCMB; Company Secretary/ Legal adviser

First City Monument Bank Limited: September 1999 to date

Deputy Head, Group Legal Services Department & Divisional Head, Loan Recovery &

Remedial Management Team within the Group Legal Services Department.


Assistant Head, Aviation, Energy & Engineering Dept, Institutional Banking Group

Head, Commerce, Telecoms & Services Unit, Institutional Banking Group

Fidelity Union Merchant Bank Limited: February 1998 to September 1999

(Now Fidelity Bank Plc)

Credit/Marketing Unit; Ikeja Branch (Trade & Services Group)

Head Office (Credit and Marketing)

Daleko Branch (Credit and Marketing)

Magnum Trust Bank: January 1996 – January 1998

(Now Sterling Bank Plc)

Banking Officer; Credit/Marketing; Operations – Daleko Branch; Head Teller/Cash

Officer

Credit Administration; Operations – Idumota Branch; Head of Branch Operations

Customer Service Unit – Head Office Marina;

Designation: Head Customer Service Unit

Chris Ogunbanjo & Co:

Counsel – Advocacy up to the Appellate courts

ADEDIPE & ADEDIPE; Barristers, Solicitors & Legal Consultants

N.Y.S.C Primary Assignment

EDUCATIONAL BACKGROUND WITH DATES DATE QUALIFICATION SCHOOL 1998 LL.M University of Lagos (Post Graduate School)

1993 B.L. Nigerian Law School

1992 LL.B Obafemi Awolowo University

1988 W.A.S.C. A’ Level Ogun State Polytechnic, Abeokuta

1985 W.A.S.C. O ‘Level Abadina College, University of Ibadan PROFESSIONAL AFFILIATION:

Nigeria Bar Association

International Bar Association.

Federation of International Women Lawyers




FIRST ALUMINIMUM NIGERIA PLC

January 20, 2014

Appointment and Resignation of Managing Director

First Aluminium Nigeria Plc has notified The Nigerian Stock Exchange of the resignation of Mr

Gavin Molly as the Company’s Managing Director effective January 13, 2014.

Also, the Company’s Board of Directors at its meeting held on January 16, 2014 approved the

appointment of Mr Robin Neville as its Acting Managing Director effective January 14, 2014.

Mr Robin Neville has 30 years of experience as Finance Director, Manufacturing Director and

Managing Director in range of international manufacturing and trading businesses.

Mr Robin started his first management role in Borax Consolidated - a mining and speciality

chemicals company. From 1983 to 1998, he held various directorships in Vickers Plc, medical

division, responsible for manufacturing in the UK, USA and Japan.

Between 1998 and 2007, Robin headed the finance operations of Associated Management

Service, a diversified international group with operations in the UK, USA, Nigeria and India

respectively.

He became the Commercial Director of First Aluminium Nigeria Plc from July 2007 - September

2010.

Robin is a fellow of the Institute of Cost and Management Accountants and has been the

Managing Director of Inlaks Power Solutions Limited prior to this appointment.

JOSEPHINE IGBINOSUN



COSTAIN (WEST AFRICA) PLC

January 20, 2014

Appointment of Chief Operating Officer

Costain (West Africa) Plc has notified The Nigerian Stock Exchange of the appointment of Mr. De

Jesus Barreto Fernando as the Chief Operating Officer of the Company.

Mr. Barreto Fernando does not sit on the Board of Directors of the company but will be an

integral part of the business going forward as he is expected to deploy his depth of experience in

operating the business for greater efficiencies and results.

JOSEPHINE IGBINOSUN



PORTLAND PAINTS AND PRODUCTS NIGERIA PLC

January 20, 2014

Appointment of New Company Secretary

Portland Paints and Products Nigeria Plc have notified The Nigerian Stock Exchange of the

appointment of Mr. Adeleke Ibraheem Yusuff as its Company Secretary effective December 2,

2013.

Born on 2nd February 1968, Mr. Yusuff attended Comprehensive Grammar School, Saki Oyo State

(1985), Ansar Ud Deen Heights Saki, Oyo State (HSC) 1987; Obafemi Awolowo University, Ile-Ife,

Osun (LL.B Hons) – 1991; Nigerian Law School Lagos, B.L. – 1992; Lagos State University, Ojo,

LL.M. 2009.

Mr. Yusuff was called to the Nigerian Bar in December 1992 after which he went into private legal

practice with Eyimofe Atake & Co. in 2000, he joined African International Bank Limited as

Regional Legal Officer (East) based in Port Harcourt. In October, 2002 he joined Reliance Bank

Limited as an Assistant Manager (Legal) and was there until December 2005. He joined

Intercontinental Bank Plc in January 2006 as the Regional Legal Adviser, North West/North East

(based in Kano) until June 2007 when he was appointed Regional Legal Adviser, South West and

Benin (based in Ibadan, July 2007 – October 2010). He was the Regional Legal Adviser, Lagos

Mainland between April 2011 – to August 2011.

Mr. Yusuff joined UAC of Nigeria Plc in October 2011 as Legal Services Manager, a position he

held till date.

He is an Associate of Chartered institute of Arbitrators Nigeria (AClarb) and also Associate of

Chartered Institute of Arbitrators of UK, Nigerian Branch (AClarb), 2009.

He is married with two children.

JOSEPHINE IGBINOSUN



COSTAIN (West Africa) PLC

January 21, 2014

Final Settlement of Concessionary Amount to First Bank of Nigeria Limited

Costain (West Africa) Plc has notified The Nigerian Stock Exchange that the company has finally

liquidated its debt with First Bank of Nigeria Limited which led to the appointment of a Receiver

Manager by First Bank for which The Exchange notified the market via its market bulletin of

November 6, 2013.

The final instalment of the concessionary sum was paid by Costain (West Africa) Plc via its letter

to First Bank of Nigeria Limited dated 13th January 2014 and First Bank’s acknowledge of the sum

paid via its letter dated 15th January 2014.

First Bank of Nigeria Limited has confirmed that based on this development, Costain (West Africa)

Plc is deemed to have discharged its obligation to the Bank on this facility. The Bank also stated

that steps are being taken to discharge the receivership at the Corporate Affairs Commission and

all relevant authorities will be notified as appropriate.

JOSEPHINE IGBINOSUN



FORTE OIL PLC

January 22, 2014


In pursuant to the NSE’s Post-listing requirements, Forte Oil Plc has notified The Nigerian Stock

Exchange that its Board of Directors will meet on Friday, January 31, 2014 to approve the audited

financial statements for the year ended December 31, 2013 and to discuss the budget for the

2014 financial year, among the key agenda of the meeting.

JOSEPHINE IGBINOSUN



JOHN HOLT PLC

January 24, 2014

Board Appointments

John Holt Plc has notified The Nigerian Stock Exchange of the appointment of Dr. Christopher

Ezeh, a Senior Executive of the Company, as Executive Director (Operations). The Company also

announced the appointment of Mr. Mojirola Yussuf as a non-Executive Director. The

appointments took effect from November 28, 2013.

Dr. Christopher Ezeh holds a B.Sc in Economics from Enugu State University of Science and

Technology. He proceeded to Cardiff Business School, UK, where he obtained an MBA,

Postgraduate Diploma in Research Methods and a Ph.D in Marketing Strategy.

Dr. Ezeh worked with Nigerian Breweries Plc; British Gas, UK; Conduit Group, UK; John Holt &

Company, UK; Beaufort Research, UK; Minaj Group Ltd and The Gilead Consortium Ltd before

joining John Holt in 2009 as GM, Holt Properties and rose to the position of Senior Executive;

Technical Services. He is an Associate Member of the Chartered Institute of Marketing (UK).

Mr. Mojirola Yussuf holds B.Sc and MSc. In Finance and is an Associate Fellow of the Institute of

Chartered Accountants of Nigeria. He retired as an Executive Director of International Bank, and

is currently Chairman/CEO of Modesty Capital Limited, an investment holding company with

interest in real Estate, Stock/Asset Management and Venture Capital.

JOSEPHINE IGBINOSUN



ECOBANK TRANSNATIONAL INCORPORATED (ETI)

January 24, 2014

Resignation of a Non-Executive Director

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange of the resignation of Mr. Paulo Gomes as a Non- Executive Director of the Board of the company with effect from 22 January 2014. Mr André Siaka, Interim Chairman of the Board of Directors of Ecobank Transnational Incorporated has, on behalf of the Board, thanked Paulo Gomes for his valuable contributions to the company over the years and for what he has brought to the Board and wished him well in his future endeavours. Mr Paulo Gomes joined the Board of ETI in 2006. He was an Executive Director of the World Bank

Group in Washington D.C. from 1998 to 2006. From 1995 to 1998, Paulo Gomes worked for the

Ministry of Finance, Planning and Trade of Guinea-Bissau, where he was Principal Adviser,

Director of Strategic Planning, Public Investment and Debt. Paulo Gomes is the Founder and

Manager of Constelor Holdings and Chairman of AFIG Fund. He holds a Certificate in Political

Studies (Institut d’Etudes Politiques de Paris), a Bachelor in Economics and International Trade

(Institut d’Etudes Libres de Relations Internationales, Paris) and Masters in Economic Policy and

Management from the Kennedy School of Government at Harvard (USA).

JOSEPHINE IGBINOSUN



UBA CAPITAL PLC

January 24, 2014

Changes in the Board of UBA Capital Plc

UBA Capital Plc has notified The Nigerian Stock Exchange (NSE) that sequel to its Board of

Directors’ meeting held on Friday, January 10, 2014, it has approved the appointments of the

following Directors effective January 13, 2014:

Mr Chika Mordi Chairman

Mrs Oluwatoyin Sanni Director

Mr Emmanuel Nnorom Director

1. Mr Chika Mordi (Chairman)

Mr Chika Mordi (Chairman) is a professional Banker with over two decades in the banking

industry. He holds a Bachelor of Science (BSc) in Economics from the University of Ilorin

(1986) before obtaining Masters in Business Administration (MBA) from IESE Business School,

Barcelona, Spain - 1997; Advanced Management Program - Harvard Business School,

Cambridge MA. USA (2007); Master’s in Public Administration (MPA) - Harvard Kennedy

School, Cambridge MA. USA (2008); Master’s in Public Policy - Johns Hopkins University

(2010) and Master’s in Political Communication - American University, Washington D.C

(2012).

Working Career: Mr Mordi began his working career with the Central Bank of Nigeria (CBN),

Calabar branch as a Youth Corps Member (1986 - 1987) serving in the Banking Supervision

Department. His other places of employment are:

Citibank Nigeria – February 1989 to March 1990

Ivory Merchant Bank Ltd (Head, Special Products Unit) – April 1990 to September 1992

Intercontinental Bank Plc (Head, Investment Banking Group) – October 1992 to

September 1997

Metropolitan Merchant Bank (Head, Corporate & Investment Banking Division) - October

1997 to September 1999

Standard Trust Bank Plc (Executive Director) – September 1999 to June 2003

Continental Trust Bank Plc (Chief Executive Officer) – June 2003 to March 2005

United Bank for Africa Plc (Executive Director & Member of the Board) – April 2005 to

July 2008


Mr Mordi has served on the boards of more than thirty Companies ranging from; United

Bank for Africa Plc, Interswitch Ltd, Afrinvest Ltd (United Kingdom) BGL Plc, ADIIC Insurance

Plc among many others. He is a member of the Institute of Directors and Honourable Senior

member of Chartered Institute of Bankers (HCIB) etc.

He has been the Chief Executive Officer, Accender Africa, Washington D.C from January 2005

prior to this appointment. He is a multi-linguist of more than six languages.

2. Mr Oluwatoyin Sanni is Forty-Nine (49) years old and holds LL.B Hons from the University of

Ife, Ile-Ife (1980 - 1984) and was called to the Bar after graduating from the Nigerian Law

School, Lagos (1984 - 1985) before acquiring his Master’s of Law (LL.M) from the University of

Lagos (1997 - 1998).

Mr Sanni started his working career as a Counsel, Advocacy and Legal Advisory Services with

Ladosu Ladapo S.A.N. & Co. Ibadan - 1985 to 1986 and between 1986 to 1989, he became the

State Council in the Ministry of Justice, Ogun State. He has since worked in the following

organisation:

1989-1994 - Company Secretary/Legal Adviser - Caribbean Financial Group Lagos

1984 - 1998 Manager 1/Deputy Legal Adviser – Gateway Bank of Nigeria, Lagos

1999 - Junior Research Fellow - University of Lagos

September 1999 to July 2003 - Assistant General Manager - First Trustees Nig. Ltd

August 2003 to January 2006 - Managing Director/Chief Executive – Cornerstone Trustees

Ltd

Further to Mr Sanni’s numerous qualifications, he is an Associate, Institute of Chartered

Secretaries & Administrators, United Kingdom, Associate Chartered Institute of Stockbrokers

(A.C.S) among others. He has attended numerous professional courses both within and outside

the Country.

He was the Managing Director/Chief Executive in UBA Trustees - Global Investor Services prior, to

this appointment. He is married with three children.

3. Mr Emmanuel Nnorom: (Director), 53 years old had his early education at Comprehensive

Secondary School, aba, Abia State where he obtained his WASC O’Level. He went PEAT

Marwick Casseleton Elliot & Co. (Chartered Accountants) Now KPMG between 1978 and 1983

where he trained as an Accountant before attending Templeton College - Oxford University,

Oxford, United Kingdom in 1996. Qualifications/Certifications obtained include; Associate -

Institute of Chartered Accountants of Nigeria - 1982, Fellow - Institute of Chartered

Accountants of Nigeria -1992, Senior Management Programme Certificate - Manchester

University, Manchester, UK – 1995 and Advanced Management.


Mr Nnorom began his working career as a Trainee Accountant with Peak Marwick – 1979 - 1982

before becoming a senior Auditor and Audit Supervisor in the same Company (1982 - 1983).

Between 1983 to 1985 he became the Production Accountant and Finance Manager with the

Nigerian Breweries Plc (Part of CWA Holdings Heineken Group). Other places he worked include:

ANZ Bank Ltd, Stanbic Bank Ltd - Assistant Manager (1985 - 1986), Deputy Manager

Operations (1987), Manager Operations (1988) and Senior Manager Operations (1989 -

1990) respectively.

Diamond Bank Ltd, Lagos Nigeria – Assistant General Manager Operations (1991 - 1993),

Assistant General Manager Branch Co-ordination (1993), Deputy General Manager (1994 -

1996) and General Manager, Operations & Branch Businesses (Jan. 1996 - May, 1998).

Equatorial Trust Bank, Lagos, Nigeria - Senior Consultant (August 1998 - Oct. 1998)

Liberty Merchant Bank Plc - Executive Director Operations (1st Nov. 1998 – 30th Nov. 1999)

NUB International Bank Ltd - General Manager Finance and Planning (Jan. 2001 – April 15,

2004)

Standard Trust Bank Plc (Now UBA) - General Manager Operations and Control (April 16,

2004 - July, 2005)

United Bank for Africa Plc – General Manager External Reporting (August 1, 2005 - March

31, 2008), Executive Director/Group Chief Operating Officer(April 1, 2008 – March 31,

2009), Executive Director/Group Executive Officer (April 1, 2009 – June 30, 2010),

Executive Director – Finance (1st July, 2010 – 28th Feb. 2012), and Executive Director - Risk

(1st March 2012 -Dec. 30th, 2012).

Mr. Nnorom has attended several trainings both within and outside and was the MD/CEO –

UBA Africa prior to this appointment. He is married.

JOSEPHINE IGBINOSUN



MANSARD INSURANCE PLC

January 28, 2014

Notification of Board Meeting

Mansard Insurance Plc has notified the Nigerian Stock Exchange that its Board of Directors will

meet on Wednesday, February 12, 2014 to consider the Audited Financial Statements of the

Company for the year ended December 31, 2013.

Issues relating to dividend may be discussed at the meeting.

JOSEPHINE IGBINOSUN



MCNICHOLS CONSOLIDATED PLC

January 29, 2014


McNichols Consolidated Plc has notified The Nigerian Stock Exchange that its Board of Directors

will meet on Wednesday, 12th February 2014 at 56, Ladipo Bateye Street, GRA Ikeja, Lagos. Part

of the agenda for the meeting is the proposition to discuss dividend declaration based on the

accounts of the company for the year ended 31st December 2013.

JOSEPHINE IGBINOSUN



January 29, 2014

OANDO PLC

PRESS STATEMENT - Oando PLC Announces Notice of Extra-Ordinary General Meeting

Oando PLC has announced its plan to hold an Extra-Ordinary General Meeting on Tuesday, 18th

of February, 2014 to consider, and if thought fit, pass the following resolutions:

1. That on the recommendation of the directors and in accordance with Article 46 of the Articles of Association of the Company, the Authorized Share Capital of the Company be and is hereby increased from N5,000,000,000 (Five Billion Naira) to N7,500,000,000 (Seven Billion, Five Hundred Million Naira).

2. The amendment of Clause 6 of the Memorandum of Association and Article 3 of the Articles of Association respectively to reflect the new authorized share capital of N7,500,000,000 (Seven Billion, Five Hundred Million Naira) divided into 15,000,000,000 (Fifteen Billion) Ordinary Shares of 50 Kobo each.

3. The authorization to raise further capital of up to N50,000,000,000 (Fifty Billion Naira) through an offer by way of rights issue.

4. The authorization to raise additional capital of up to N200,000,000,000 (Two Hundred Billion Naira) whether by way of a public offering, private/special placement, rights issue or other methods.

The company stated that with the acquisition of Conoco Philips Nigerian business Unit, which will

undoubtedly provide significant growth in size and scale in our Upstream business, its mature

Mid-Stream and Downstream Units will continue to retain dominant positions in their market

space whilst not requiring material Equity infusion.

In its bid to maximize shareholder value, Oando Plc explains that it is necessary to optimize its

balance sheet by funding the company’s operations where necessary via equity as opposed to the

more expensive debt, currently an average of 18% per annum in Naira and 8.5% per annum

where dollar loans are secured.

The first of this long term plan will be the raising of further capital by way of Rights of N50 billion

expected to be concluded by Q2, 2014. The proceeds of this Rights exercise will be utilized

towards debt reduction and the company’s immediate working capital needs, none of the

proceeds raised will be allocated to the closure of the COP Acquisition, furthermore it does not

contemplate any additional equity issuance in 2014.


Oando Plc explains that the passing of these resolutions will provide the ideal platform to ensure

its readiness for further transformation, as the company undoubtedly will generate stronger

cashflows, but need to minimize its cost of capital to increase the returns to shareholders.

JOSEPHINE IGBINOSUN



ARM AGGRESSIVE GROWTH FUND

January 29, 2014

ARM AGGRESSIVE GROWTH FUND – CLOSURE OF UNITHOLDERS’ REGISTER

Asset & Resource Management Company Ltd (ARM) has notified The Nigerian Stock Exchange

that the Register of Unitholders of ARM Aggressive Growth Fund will close on Friday, January 31st

2014 for the purpose of determining the Unitholders who would qualify for dividend for the

financial year ended December 31st 2013.

JOSEPHINE IGBINOSUN



ARM DISCOVERY FUND

January 29, 2014

ARM Discovery Fund – Closure of Unitholders’ Register

Asset & Resource Management Company Ltd (ARM) has notified The Nigerian Stock Exchange

that the Register of Unitholders of ARM Discovery Fund will close on Friday, January 31st 2014 for

the purpose of determining the Unitholders who would qualify for dividend for the financial year

ended December 31st 2013.

JOSEPHINE IGBINOSUN



OANDO PLC

January 30, 2014

OANDO ENERGY RESOURCES ANNOUNCES AGREEMENT FOR PRIVATE PLACEMENT

Oando Energy Resources Inc (OER) - a subsidiary of Oando Plc - a company focused on oil and gas

exploration and production in Nigeria, has announced that it intends to complete a private

placement to raise the sum of US$50,000,000. In addition, in connection with the Offering, OER

intends to acquire a 5% interest in OML 131 in exchange for common shares of the Company (the

“OML 131 Acquisition”).

The Offering

The Offering is expected to consist of 35,070,063 common shares of the Company (the “Common

Shares”) and 17,535,031 common share purchase warrants (the “Warrants”) for gross proceeds

of US$50,000,000 (each Common Share and half-Warrant, a “Unit”) at a price of C$1.57 per Unit.

Each whole Warrant will entitle the holder thereof to acquire one common share of the Company

at a price of C$2.00 per common share for a period of 24 months from the date of the closing of

the COP Acquisition (as defined below). If, after a period of six months from the closing of the

COP Acquisition, the common shares of the Company trade on the Toronto Stock Exchange

(“TSX”) at a price greater than C$3.50 for a period of at least 10 consecutive trading days, the

Warrants will expire on the date which is 30 days following the last day of such 10 consecutive

trading days.

Closing of the Offering is subject to receipt of applicable regulatory approvals, including approval

of the TSX. The issue price of the Units represents approximately an 11% discount on the market

price of the Common Shares on the date the TSX received the Company’s request for price

protection. Securities issued will be subject to a hold period, which will expire four months plus

one day from the date of closing of the Offering.

It is anticipated that the proceeds of the Offering will be used by the Company to satisfy a portion

of the purchase price for the proposed acquisition by the Company of the Nigerian upstream oil

and gas business of ConocoPhillips (the “COP Acquisition”). The Offering has been negotiated at

arm’s length. Should OER elect to issue Common Shares to Oando Plc, the 94.6% shareholder of

the Company, prior to or concurrent with the closing of the Offering as repayment of all or a part

of a convertible loan outstanding to Oando Plc, the Offering is not expected to affect control of

the Company and no new insiders are expected to be created as a result of the Offering.


The OML 131 Acquisition

In connection with the Offering, the Company intends to acquire a 5% interest in OML 131 from

an investor in the Offering for a purchase price of US$5,000,000. The purchase price will be

satisfied by the issuance of an additional 3,491,082 Units. The closing of the OML 131 Acquisition

is subject to acceptance by the TSX and any requisite approvals from Nigerian regulatory

authorities. Assuming completion of the OML 131 Acquisition and the COP Acquisition, OER will

own a 100% interest in OML 131.

JOSEPHINE IGBINOSUN



TRANSNATIONAL CORPORATION OF NIGERIA PLC

January 31, 2014

Transcorp, GE Partner to Improve Power Generation in Nigeria

Transnational Corporation of Nigeria Plc (Transcorp) has notified The Nigerian Stock Exchange that Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE) have signed an agreement to expand the capacity of TUPL’s Ughelli power plant by 1000MW over the next 3 to 5 years.

Both parties have also signed a separate agreement to rehabilitate the damaged GT 15 turbine at the Ughelli plant, which will add 115MW to the plant’s output.

Currently, the Transcorp Ughelli power plant generates 360MW of electricity, up from 160MW on November 1, when Transcorp took ownership of the plant. With the additional 115MW, as well as other rehabilitation works planned at the plant, output at Ughelli will increase to 700MW by December 2014.

The Ughelli power plant is Nigeria’s largest gas-fired electricity generation asset. Purchased by Transcorp during the 2013 power privatization programme, the $300 million plant is part of the $2.5 billion investment pledge made by the Chairman of Transcorp and Heirs Holdings, Tony O. Elumelu, CON, to deliver affordable, accessible power to Africa under the Power Africa Initiative. Heirs Holdings, Elumelu’s pan-African proprietary investment company, is Power Africa’s largest private sector investor and a major investor in Transcorp.

The agreements were signed at a closed door meeting between executives of both companies, led by Elumelu and the Global Chairman of General Electric, Jeffrey Immelt. They follow a cooperation agreement executed by Transcorp and GE in 2013.

A publicly listed conglomerate with strategic investments in the power, hospitality, business and energy sectors, Transcorp, through TUPL, is committed to transform and bring the plant to profitability by increasing its generating capacity to impact positively on the socio-economic development of Nigeria.

GE, one of the world’s most reputable companies is the global leader in the design, manufacture, supply, installation and maintenance of technology and services for the Power, Aviation, Oil & Gas, Healthcare and Transportation sectors.

Agreements will dramatically increase capacity at the Ughelli power plant in 2014.

Josephine Igbinosun



UNITYKAPITAL ASSURANCE PLC

January 31, 2014

Divestment of Holdings of Unity Bank Plc in UnityKapital Assurance Plc

UnityKapital Assurance Plc has notified The Nigerian Stock Exchange of the plan by Unity Bank

Plc, its major shareholder, to divest the bank’s holdings in UnityKapital Assurance Plc. The

divestment of the holdings of the Bank is in compliance with the directive of the Central Bank of

Nigeria (CBN) that all banks in Nigeria should divest from non-banking subsidiaries or adopt a

holding company structure in the new licensing regime.

Unity Bank Plc has appointed Capital Assets Limited as Financial Advisers in the divestment of the

holdings of the Bank in UnityKapital Assurance Plc.

A “Request for Expression of Interest (EOI)” for the sale of the 50.30% equity stake in UnityKapital

Assurance Plc by Unity Bank Plc has been prepared for publication by Capital Assets Limited.

JOSEPHINE IGBINOSUN



February 4, 2014

ZENITH BANK PLC


Zenith Bank Plc has notified The Nigerian Stock Exchange that the Board of Directors of the Bank

is scheduled to meet on Wednesday, February 12, 2014 to deliberate on the audited account of

the Bank for the year ended December 31, 2013.

Proposal for recommendation of dividend for shareholders approval at the next Annual General

Meeting is among the items scheduled for deliberation at the meeting.

JOSEPHINE IGBINOSUN



February 4, 2014

NOTIFICATION ON VAT CHARGES AND CSCS ELIGIBILITY FEES

This is to formally notify ALL Issuers, Stockbrokers, Issuing Houses and other Agencies making

payment to The Exchange on Application and Listing Fees that, in accordance to the law on VAT

which came into effect as at 1993, it is mandatory to include VAT payment of 5% to such

payments.

Also payment of Eligibility Fees to Central Securities Clearing System Limited (CSCS) should be

paid directly to CSCS. The Nigerian Stock Exchange will no longer accept responsibility of

collecting payment of Eligibility Fees on behalf of CSCS.

In the light of this, payment of such fees should be made using the following bank account

details:

NAME: Central Securities Clearing System Plc

BANK: GUARANTY TRUST BANK PLC

ACCOUNT NUMBER: 000-292-5850

SORT CODE: 058152036

BRANCH: Broad Street

JOSEPHINE IGBINOSUN



February 4, 2014

DANGOTE CEMENT PLC

Appointment of Directors

Dangote Cement Plc has notified The Nigerian Stock Exchange of the appointment of Mr.

Emmanuel Ikazoboh and Ernest Ebi as non-Executive Directors of the Company.

EMMANUEL IKAZOBOH

Emmanuel Ikazoboh was until May 2011 the Administrator of The Nigerian Stock Exchange,

appointed by the Securities and Exchange Commission, Nigeria. He completed the assignment in

8 months and restructured the management, equities market, stockbrokerage processes and

Corporate Governance structure of both entities.

He was until August 2009 the Chairman/CEO of Deloitte, West and Central Africa. He was

Deloitte’s Client Service Director for Africa (2002 – 2007). As Chief Executive of one of Nigeria’s

largest advisory firms, he also has a wealth of experience interacting with government authorities

on issues related to business environments. He has international experience as a Partner of

Touché Ross in Dartford UK, enabling him to bring a genuinely international perspective to

business issues.

Emmanuel has MBA in Financial Management and Marketing from Manchester University

Business School and graduated in Finance and Accounting from Yaba College of Technology

Lagos. He is a UK Certified Accountant and a Fellow of the Institute of Chartered Accountants of

Nigeria and the Nigeria Institute of Taxation.

Emmanuel Ikazoboh attended leadership and senior management courses with Deloitte and was

one of the Top CEOs seconded to Kellogg Senior Management School at the North-western

University Chicago USA.

He is currently adviser to the Edo State Government Economic and Strategy team on

infrastructure and Agricultural reform. Emmanuel has just recently incorporated a Business

Process Outsourcing Company, Hedenmark Management Services, which will work closely with

other BPOs in India and South Africa to render back office services to corporate entities in Europe

and the United States.

He was appointed African member on the Board of International Institute for Sustainable

Development Winnipeg, Canada (July 2012). He was also a member of Presidential Committee for

the restructuring of the Nigerian Government Ministries, Agencies and Commissions and the

reduction of cost of governance.


JOSEPHINE IGBINOSUN

DANGOTE CEMENT PLC

APPOINTMENT OF DIRECTOR

Mr Ernest Ebi

Mr Ebi holds BBA in Marketing from Howard University, Washington DC, USA in 1978 before obtaining his

MBA from the same Institution in 1979

Mr Ernest started his working career as an Account Technician from the National Association of Counties,

Washington DC from March 1976 to July 1978. Between July 1978 to November 1981, he became the

Assistant Vice President/Controller with the Community Federal Savings & Loans Association, also in

Washington DC, U.S.A.

Between December 1981 to June 1993, Mr Ebi worked with the International Merchant Bank holding

different positions; Unit Head, Real Estate Unit (1981-1984) , Manger, Development Finance (1986-1988),

Senior Manager Treasury (1988-1989) and Assistant General Manager (1992 -1993) in that order.

On joining the Continental Bank Plc of Nigeria, Mr Ebi became the Executive Director, Corporate Banking

(Oct 1993 to March 1995) and became the Managing Director & CEO of New Nigerian Bank Plc (March

1995-January 1998). He then joined Diamond Bank Ltd (as of then), as Deputy Managing Director & Chief

Operating Officer (January 1998 – June 1999)

From June 1999 to October 2009, Mr Ebi worked with The Central Bank of Nigeria (Abuja) as Deputy

Governor, Policy overseeing the Corporate Strategy Department of the Bank, International Economic

Relations Department, Trade & Exchange Department among other responsibilities.

He has received numerous Executive Education & Development training among which are; Leadership Best

Practices – Harvard Business School (2009), OSLP Stimulus - Oxford Business School - (2008), Leaders in

development: Managing Political & economic change - Harvard University - John F. Kennedy School of

Government among others. He is a Board member/Chairman of Agrited Nigeria Limited, Sheba Exploration

and Production, AIICO Pension Managers among others.

Mr. is a recipient of numerous awards.

JOSEPHINE IGBINOSUN



February 5, 2014

TRANSNATIONAL CORPORATION OF NIGERIA (TRANSCORP) PLC

February 5, 2014


In pursuant to the Post-listings requirements, Transnational Corporation of Nigeria Plc

(‘’Transcorp’’) has notified The Nigerian Stock Exchange that its Board of Directors has scheduled

to meet on February 7, 2014.

Among the items on the agenda of the meeting are the consideration of the Company’s 2013

Audited Accounts and the consideration of the proposal for payment of dividend to the

shareholder at the Annual General Meeting

JOSEPHINE IGBINOSUN



ARM DISCOVERY FUND

February 5, 2014

ARM Funds – Closure of Unitholders’ Register

Further to the market bulletin sent on January 29, 2014 on the closure of register for ARM Funds,

the Fund Managers have notified the Nigerian Stock Exchange that in agreement with the

Trustee, the ARM Discovery Fund and ARM Aggressive Growth Fund register of Unit holders will

now close on Friday, February 7, 2014.

JOSEPHINE IGBINOSUN



OANDO PLC

February 6, 2014

Oando Plc MD Briefs the Market

The Managing Director of Oando Plc, Mr. Wale Tinubu, will brief market operators on the floor of

The Nigerian Stock Exchange today, February 6, 2014 at 1.00 p.m.

The briefing is at the instance of The Exchange to enable Oando Plc throw more light on the flurry

of activities presently being undertaken by the Company.

JOSEPHINE IGBINOSUN



CADBURY NIGERIA PLC

February 7, 2014

Cadbury Nigeria Plc – Update on the Reduction of Share Capital and Share Premium

Cadbury Nigeria Plc has notified The Nigerian Stock Exchange that further to its shareholders

special resolution passed on 19th December 2013 approving the reduction of the Company’s

share capital, the terms of the resolution have been approved by the order of the Federal High

Court on 30th December 2013. Following the above, the company’s Board passed a resolution to

suspend trading in the shares of the company until the requirements of the Court Sanction

approving the Capital Reduction have been complied with.

The Company has stated that its Solicitors have filed an application with the Corporate Affairs

Commission (CAC) for the registration of the Court Sanction as required by the provisions of

section 109 CAMA. Cadbury Nigeria Plc has confirmed that the CAC is yet to issue a Certificate of

decrease in share capital and that the Capital Reduction will only become effective following the

issuance of the Certificate.

Cadbury explains that until this Certificate is received from CAC the company cannot ask The

Exchange to lift the suspension imposed in respect of trading in the company’s shares. It

therefore requests that the suspension should be continued until such time that the CAC issues

the Certificate.

The Company undertakes to notify The Exchange as soon as it receives confirmation from its

Solicitors that the Certificate has been issued.

JOSEPHINE IGBINOSUN



ECOBANK TRANSNATIONAL INCORPORATED PLC

February 7, 2014

Notice of Extra Ordinary General Meeting

Ecobank Transnational Incorporated has notified The Nigerian Stock Exchange that the company

will hold an Extraordinary General Meeting at The Conference Centre, The Ecobank Pan African

Centre, 2365 Boulevard du Mono, Lome, Togo on Monday, March 3, 2014 at 10.00 a.m. to

transact the following business:

To adopt an action plan to implement the recommendations of the Securities & Exchange

Commission, Nigeria on governance improvement of the Company

To adopt a new resolution on Capital raising

To reconstitute the Board of Directors

To amend the Company’s Articles of Association to include the following:

(i) Provision on mergers, acquisitions and disposals

(ii) Reduction of the maximum size of the Board of Directors

(iii) Limitation of the tenure of Directors

(iv) Revision of the quorum for meetings of the Board of Directors

JOSEPHINE IGBINOSUN



February 7, 2014

CORNERSTONE INSURANCE PLC

February 7, 2014

Notice of Appointment of New Company Secretary

Cornerstone Insurance Plc has notified The Nigerian Stock Exchange that it has appointed PAC

Solicitors as its new Company Secretary with effect from January 1, 2014.

JOSEPHINE IGBINOSUN



February 11, 2014

NESTLE NIGERIA PLC


Nestle Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors will meet

on Monday, February 24, 2014 at 1.00 p.m. to consider and recommend the payment of final

dividend to the shareholders based on the audited accounts of the Company for the year ended

31st December 2013.

JOSEPHINE IGBINOSUN



February 11, 2014

WEST AFRICAN CAPITAL MARKET INTEGRATION (WACMIC) SENSITISATION WORKSHOP

The Chairman of West African Capital Market Integration Council/CEO of The Nigerian Stock

Exchange, Oscar Onyema, is inviting the Chartered Institute of Stockbrokers (CIS), Association of

Stockbroking Houses Of Nigeria (ASHON) and Association of Issuing Houses of Nigeria (AHIN) to

the WACMIC Sensitization Workshop (Lagos Edition) scheduled for tomorrow, Wednesday, 12th

February 2014, at the NSE Event Centre, 20th Floor.

JOSEPHINE IGBINOSUN



OASIS INSURANCE PLC

February 11, 2014

Appointment of Acting Managing Director

Oasis Insurance Plc has notified The Nigerian Stock Exchange that it has appointed Mr Goke

Adegbite as the Acting Managing Director of the Company.

Mr Goke Adegbite is a Chartered Accountant and a fellow of Certified Chartered Accountants. He

holds BSc. in Mathematics & Software Engineering from the University of Hull, UK (1996 - 1999)

before obtaining his MSc in Investment Management from Cass Business School, UK (2006 -

2007). He became a Certified Insurer from the Chartered Institute of Insurers in 2013.

Mr Adegbite started his working career as an Analyst with Accenture, in Lagos from 2002 to 2003,

participating in Business process design and documentation on a leading property group and an

import trading conglomerate among his responsibilities. Between 2003 – 2005 he was at Deloitte,

Lagos, as a Corporate Finance Analyst while between 2005 - 2006 he moved to Standard

Chartered Bank, Lagos as a Business Operational Risk Manager.

Mr Adebgite moved to United Kingdom and joined Ogier Fiduciary Services, Jersey Channel Island

Structured Finance as their Senior Accountant, saddled with the preparation of IFRS and UK GAAP

FS for Medium–Term Notes programs (MTN), Collateral Debt Obligations (CDO), Fund obligations

and other securitisation vehicles among many other obligations.

He is technically skilled in IAS IFRS/UK GAAP and was the Finance Director and Portfolio Manager

with Oasis Insurance Plc prior to this appointment.

JOSEPHINE IGBINOSUN



February 12, 2014


Resignation of Directors

Ecobank Transnational Incorporated (ETI) has announced the resignation of Mr. Isyaku Umar and

Dr. Babatunde Ademola M. Ajibade have resigned their appointment as Non- Executive Directors

from the Board of Company with effect from 8 February 2014.

Interim Chairman of the Board of Directors of Ecobank Transnational Incorporated, Mr André

Siaka, has accepted the resignations and on behalf of the Board thanked the outgoing directors

for their valued contributions over the years and wished them well in their future endeavours.

Isyaku Umar became a Non-Executive Director of ETI in 2006. He started his career with UAC of

Nigeria and later worked with the Government of Nigeria in various capacities before re-joining

the private sector. Isyaku Umar holds a Bachelor’s degree in Economics from Ahmadu Bello

University Zaria and a Master of Public Administration degree from Pittsburgh University (USA)

and an Honorary Doctorate Degree by Nnamdi Azikiwe University Awka Anambah State Nigeria.

Dr. Babatunde Ajibade joined the Board of ETI in 2010 as a Non-Executive Director. He is a legal

practitioner engaged in private commercial legal practice and is a Senior Advocate of Nigeria.

Since 1996 he has been the Managing Partner of S. P. A. Ajibade & Co, a leading commercial legal

practice in Nigeria. Dr. Ajibade holds a Ph.D. in Private International Law and an L.L.M. in

Corporate and Commercial Law both from King’s College, University of London, and a L.L.B. from

the Obafemi Awolowo University, Ile-Ife, Nigeria. He is a Notary Public and a Solicitor and

Advocate of the Supreme Court of Nigeria.

JOSEPHINE IGBINOSUN



CHELLARAMS PLC February 13, 2014

Resignation of Director

Chellarams Plc has notified The Exchange of the resignation of Mr Suhas S. Kulkarni from its

Board.

The resignation was unanimously approved by the Board at its meeting on 23rd January, 2014

JOSEPHINE IGBINOSUN



February 13, 2014

MRS Oil Nigeria Plc


Mrs Oil Nigeria Plc (‘’the Company’’) has notified The Exchange that its Board of Directors’

meeting is scheduled to hold on Wednesday, February 26, 2014 at No. 8 McCarthy Street, Onikan,

Lagos.

JOSEPHINE IGBINOSUN



February 17, 2014

DANGOTE FLOUR MILLS PLC

Proposed Takeover Bid by Tiger Brands Limited

Dangote Flour Mills Plc, through Stanbic Stockbrokers Limited, has notified The Nigerian Stock

Exchange that the takeover bid by Tiger Brands Limited of up to 332,500,000 ordinary shares of

50 kobo each at N9.50 per share of Dangote Flour Mills Plc shares opened on Friday 7th February

2014 and will close on Friday 28th February 2014.

Qualifying Shareholders of Dangote Flour Mills Plc who wish to tender some or all of the ordinary

shares registered in their name should complete the Acceptance Form in accordance with the

instructions printed thereon which can be found on the Takeover Bid document which has been

sent directly to Qualifying Shareholders.

The duly completed Acceptance Form, together with valid share certificate(s) and/or CSCS

account statement, should be stamped and signed by their stockbrokers and then submitted to

EDC Registrars, so as to be received by no later than 4.00 pm on 28th February 2014.

Qualifying Shareholders who do not receive their Takeover Bid document by Thursday 20th

February 2014 are advised to contact EDC Registrars Limited at 154 Ikorodu Road Onipanu Lagos

or Call +234(1)7358970, 8103672

JOSEPHINE IGBINOSUN



FBN HOLDINGS PLC

February 17, 2014

PRESS RELEASE - FBN LIFE ASSURANCE LIMITED, A SUBSIDIARY OF FBN HOLDINGS PLC,

ANNOUNCES ITS ACQUISITION OF MAJORITY EQUITY INTEREST IN OASIS INSURANCE PLC.

FBN Holdings Plc has notified The Nigerian Stock Exchange that its subsidiary, FBN Life Assurance

Limited (“FBN Life” or "the Company”), is pleased to announce the acquisition of 4,630,595,326

ordinary shares of 50kobo each representing 71.2% of the total issued ordinary share capital of

Oasis Insurance Plc (“Oasis”). The acquisition was effected through the execution of a share sale

and purchase agreement with the majority shareholders of Oasis following receipt of approvals of

the Board of Directors of FBN Life, FBN Holdings Plc and the selling shareholders as well as the

requisite regulatory approvals from the National Insurance Commission, Securities & Exchange

Commission and The Nigerian Stock Exchange.

Following this majority acquisition, FBN Life is required to make a mandatory take-over bid to the

remaining shareholders of Oasis insurance in line with Section 131 of the Investment and

Securities Act and Rule 445 of the Securities and Exchange Commission’s Rules and Regulations.

The acquisition is in line FBN Life’s organic and inorganic growth strategy of building a leading

insurance franchise in Nigeria and Oasis provides the Company a platform to diversify its service

offerings to include non-life insurance products. More importantly, the acquisition allows for

both companies to leverage their relative strengths, thereby creating synergies for the benefit of

their respective stakeholders.

JOSEPHINE IGBINOSUN



HONEYWELL FLOUR MILLS PLC

February 18, 2014

Appointment of New Directors

Honeywell Flour Mills Plc has notified The Nigerian Stock Exchange that Mr Folaranmi Babatunde

Odunayo, its Chief Executive Officer (CEO), will be formally retiring from the Company effective March 31,

2014 having served for 17 years in that capacity and 22 years in the Honeywell Group.

Consequently the Company has also announced the following appointments in different positions:

Mr Olanrewaju Jaiyeola (Managing Director)

Dr Albert Ozara (Divisional Managing Director)

Mr Rotimi Gbenga Fadipe (Executive Director, Supply Chain)

Mr Benson Evbuomwan (Executive Director, Marketing)

Mr Olanrewaju Jaiyeola: Managing Director (Designate) will assume the role of Managing Director on

April 1, 2014. Mr Olanrewaju has been in the service of the Company for more than 20 years and his

career and business management experience in Honeywell spans from Finance, Sales and Manufacturing

Management.

Mr Lanre holds a Bachelor degree in Mathematics and Statistics from Obafemi Awolowo University, Ile-Ife,

and an MBA degree in Finance from the University Lagos. He is also an Associate of the Institute of

Chartered Accountants of Nigeria. He was formerly the Commercial Director at the Company’s Ikeja

Factory prior to this appointment.

Dr Albert Ozara: He has been appointed to the position of the Divisional Managing Director (Designate)

for one of the Company’s major divisions. He is currently responsible for managing the Company’s Ikeja

factory where he has responsibility for its overall performance.

Albert joined Honeywell Flour Mills Plc in 1998 from the Federal University of Technology, Owerri where

he had risen to the position of Head of the Crop Production Department. He holds a First Class degree in

Soil Science from the University of Ibadan, and a Doctorate degree also in Soil Science from the Cranfield

Institute of Technology, United Kingdom. He subsequently had his professional flour milling training at the

Swiss School, St. Gallen, Switzerland and Buhler Training Centre Uzwil also in Switzerland. He also had his

milling operations experience at the Swiss Mill in Zurich.

Mr Rotimi Gbenga Fadipe: He has been appointed on the Board in the position of Executive Director,

Supply Chain. Rotimi joined the Company 20 years ago as a Management Trainee. He acquired a robust

business management experience in the areas of finance, audit and supply chain management. He was the

pioneer manager for the supply and logistics function of the Company.


He holds an accounting degree from the University of Lagos, and is a Fellow of the Institute of Chartered

Accountants of Nigeria. He is also a member of the Chartered Institute of Purchasing and Supply, UK and

the Chartered Institute of Logistics and Transport, United Kingdom.

Mr Benson Evbuomwan: Holds a Bachelor degree in Pharmacy from the University of Benin. He has been

appointed on the Board as Executive Director, Marketing. Benson joined Honeywell Flour Mills Plc in 2006

as General Manager Marketing after holding senior marketing positions at Procter & Gamble Nigeria and

Guinness Nigeria Plc respectively. He has over 16 years of rich brand management experience in the Food

and Beverage Sector.

He is a member of the Advertising Practitioners Council of Nigeria (APCON)

JOSEPHINE IGBINOSUN



February 19, 2014

CADBURY NIGERIA PLC

Share Capital Reduction

Cadbury Nigeria Plc has notified The Nigerian Stock Exchange that all actions required to make

the Capital Reduction of Cadbury Nigeria Plc effective have been completed with the successful

filing of the court sanction with the Corporate Affairs Commission (“CAC”) on 12th February 2014

(“Effective Date”).

By achieving the Effective Date, the authorised share capital of the Company is now reduced by

1,252,172,198 shares from 4,000,000,000 shares to 2,747,827,724 shares while the issued share

capital of the Company is also reduced by 1,252,172,198 shares from 3,130,374,238 shares to

1,878,202,040 shares. The post-Capital Reduction price per share is N90.78.

The suspension placed on the Company’s share price on has been lifted effective today, February

19, 2014.

JOSEPHINE IGBINOSUN



February 19, 2014

PZ CUSSONS NIGERIA PLC

SPECIAL DIVIDEND

PZ Cussons Nigeria Plc has notified The Nigerian Stock Exchange that the Company’s Board of

Directors at its recent meeting resolved to recommend a special (one-off) dividend payment at

the rate of N1.30 kobo per share. This payment will be made from the General Reserve of the

Company.

An Extraordinary General Meeting of the shareholders of the Company to pass the necessary

resolution will be held on March 13th 2014 at the Golden Tulip Hotel, Festac Town Lagos at 11.00

a.m.

The Register of Shareholders will close from Monday 3rd to Tuesday 4th March, 2014 for the

purpose of updating the Register while the dividend, if approved, will be paid on Monday 17th

March 2014.

JOSEPHINE IGBINOSUN



February 19, 2014

SKYE BANK PLC

Retirement of Non-Executive Director

Skye Bank Plc has notified The Nigerian Stock Exchange of the retirement of Mr. Kola Awodein

from the Board of the Bank with effect from February 18, 2014.

Mr. Awodein served on the Board of Skye Bank Plc for 12 years and retirement is in compliance

with the CBN Code of Conduct for Banks in Nigeria for a maximum full term of 12 years for

directors.

Mr. Awodein, a Senior Advocate of Nigeria (SAN) and a Notary Public was a pioneer Non-

Executive Director of the Bank upon its consolidation in January 2006 and was the Chairman of

the Board Human Resources Committee, and member of the Board of Risk Management, Credit

and Governance and Nominations Committees upon his retirement.

The Bank assures that the retirement of Mr. Awodein will be cushioned by the Bank’s robust

Board Succession Policy.

JOSEPHINE IGBINOSUN



ABBEY BUILDING SOCIETY PLC

February 21, 2014

Changes in the Directorate

Abbey Building Society Plc has notified The Nigerian Stock Exchange that at its Board of Directors

meeting held on November 22, 2013 it appointed Mr Emile Hubert Groot as an Independent

Director to take effect from February 1, 2014. This appointment is however, subject to the

approval of the Central Bank of Nigeria (CBN) in consonance with the provisions of Section 48 (1)

of the Bank and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004

ed.

Mr Emile Hubert Groot : Born in 1950, Hubert holds Masters’ Degree (M.Sc.) from the Northern

Illinois University in Dekalb (NIU), Illinois, USA (1974) before obtaining his Doctorate Degree

(P.HD) in Economics (including Banking and Monetary Theory) at the University of Tilburg, The

Netherlands in October 1974.

Mr Groot started his working career in May 1975 as a staff member of the Ministry of Foreign

Affairs responsible for research of several African Countries at The Huge, The Netherlands. He

became, he became a full time Lector in Economics at Masters Level at the Polytechnic University

of Mexico City between (staff member of UNESCO, Paris) 1976 - 1978 while between 1978 and

1983, he became the Advisor to the National Institute of Labour Studies (INET) in Mexico City.

Mr. Emile Hubert Groot has also worked in the underlisted places:

Advisor to the Nicaraguan Investment Fund in Managua, Nicaragua on assignment of the

Dutch Ministry of Foreign Affairs, The Hague, The Netherlands (1983 - 1990)

FMO, Senior Investment Officer Latin America: Project financing and financing of Financial

Intermediaries (1985 - 1990)

Manager Small Scale Enterprise Department responsible for all FMO’s Micro, Small and

Medium Enterprise (SME) investment world-wide (1990 - 2005)

Financial Sector Specialist in the Asia Department, Member of the Board of Shore cap

International, Chicago; AfriCap, Johannesburg; Bellwether and Lok Capital in India and Board

Member of Grass Roots Business Fund (Washington, DC) among other Financial Sector areas

(between 2006 - June, 2009)

Groot has attended several courses across the world both in the area of Banking and in Financial

Institution as a whole among which are: Banking Course in Ireland, Dublin, 2000, IFC’s banking

course in Turkey in April 2001, Negotiation Course on restructuring of a Financial Institution, May


2002, Johannesburg among others. Groot was the Financial Sector Specialist at the Special

Operations Department (Distressed Assets in FMO’s Sustainability Group) prior to this

appointment. He is an International Speaker married with one child.

JOSEPHINE IGBINOSUN



CONTINENTAL RE-INSURANCE PLC February 21, 2014

Change on the Board

Continental Re-Insurance Plc has notified The Nigerian Stock Exchange that Mr Rasak Olugbenga

Falekulo, the Executive Director Life Operations, has retired from the services of the Company

with effect from January 29, 2014.

JOSEPHINE IGBINOSUN



GLAXOSMITHKLINE CONSUMER NIGERIA PLC February 24, 2014


GlaxoSmithKline Consumer Nigeria Plc has notified The Nigerian Stock Exchange that its Board of

Directors will meet on Friday 7th March 2014 to consider the following:

1. The 2013 Audited Financial Statements

2. The amount to be recommended to members as final dividend at the next Annual General

Meeting

3. Bonus issue and

4. Fix the date and venue of the Annual General Meeting.

The company states that the Board’s decisions arising from the meeting will be communicated to

The Exchange immediately.

JOSEPHINE IGBINOSUN



NIGERIAN AVIATION HANDLING COMPANY PLC (NAHCO AVIANCE)

February 24, 2014

Approval of Free Trade Zone Licence to NAHCO AVIANCE Subsidiary (NAHCO FTZ Ltd)

Nigerian Aviation Handling Company Plc has notified The Exchange that approval of Free Trade

Zone (FTZ) licence has been granted to its subsidiary, NAHCO FTZ Limited.

The FTZ licence will be operated by NAHCO FTZ Limited. The Company has stated that further

details on the FTZ license will be communicated to The Exchange in due course.

JOSEPHINE IGBINOSUN



ECOBANK TRANSNATIONAL INCORPORATED (ETI) February 24, 2014

JOINT PRESS STATEMENT FROM ECOBANK TRANSNATIONAL INCORPORATED AND PROCREDIT HOLDING

Ecobank Transnational Incorporated (ETI) and ProCredit Holding Germany (PCH) has announced

that they are in discussions with the view to ETI acquiring a majority stake in PCH’s Mozambican

subsidiary - Banco ProCredit Mozambique (PCM). ETI has formally expressed an interest in

purchasing Banco ProCredit in Mozambique by acquiring the shares currently held by ProCredit

Holding and DOEN Foundation, representing 96% of Banco ProCredit’s total capital.

The transaction is subject to the approval of the regulatory authorities in Mozambique.

Banco ProCredit Mozambique

Banco ProCredit Mozambique is a development-oriented financial institution and part of the

international ProCredit group. Operating in Mozambique since 2000, it has extensive experience

in supporting very small, small and medium-sized enterprises, and finances a wide range of

business activities, including agriculture and fishing. It also provides banking services to non-

business clients. The bank prides itself on its excellent customer service, and on providing

products and services tailored to its clients’ needs. Today, Banco ProCredit serves over 67,000

clients via its 14 business outlets. Its total loan portfolio amounts to just under MZN 695m and it

has a deposit base of about MZN 930m.

ProCredit Holding AG & Co. KGaA

ProCredit Holding, headquartered in Frankfurt am Main, is the parent company of the ProCredit

group, comprising 22 ProCredit banks and financial service providers in developing countries and

emerging economies as well as the ProCredit Bank in Germany. As of year-end 2013, the group’s

total assets came to €5.8 billion. The total outstanding loan volume was €4.2 billion, against

customer deposits totalling €3.8 billion. The group’s equity base amounted to €503 million.

ProCredit Holding is a “public-private partnership” whose core shareholders are the strategic

investors IPC and IPC Invest (an investment vehicle for ProCredit staff members), the Dutch DOEN

Foundation, KfW and the IFC (World Bank Group).



OASIS INSURANCE PLC February 25, 2014

CHANGES ON THE BOARD

Oasis Insurance Plc has notified The Nigerian Stock Exchange that at the meeting of its Board of

Directors held on 21st February 2014 the following were appointed as directors of the company:

1. Mrs. Adenrele Tokunbo Kehinde (Chairman)

2. Mr. Valentine Ojumah

3. Mr. Aderemi O. Ogunmefun

4. Mr. Caleb Achana Yaro

5. Mrs. Margaret Mercer Dawes (South African)

6. Mr. Adebayo Adelabu

7. Mr. Hennie Nel (South African)

At the same Board meeting, Mr. Adewale Michael Adegbite, Mr. Yomi Adewusi, Mr. Tayo

Odeyemi, Mrs Lulu-Briggs and Mr. O. Omosehin resigned their appointments as Directors of Oasis

Insurance Plc with effect from 28th February 2014. Mr. Adegoke Adegbite resigned his

appointment as Executive Director of the company with effect from 28th February 2014 and

reappointed as non-Executive Director.

Furthermore, Mr. Segun Balogun was appointed the Acting Chief Operating Officer with effect

from 21st February 2014.

JOSEPHINE IGBINOSUN



ABBEY BUILDING SOCIETY PLC February 25, 2014

Notice of Change of Name

Abbey Building Society Plc has notified The Nigerian Stock Exchange of the change of name of the

Company to ABBEY MORTGAGE BANK PLC.

The company has obtained a new Certificate of Incorporation from the Corporate Affairs

Commission reflecting the new name.

JOSEPHINE IGBINOSUN



BERGER PAINTS NIGERIA PLC February 25, 2014


Berger Paints Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors’

meeting earlier scheduled to hold on 8th April 2014 has been brought forward to now hold on 20th

March 2014.

The Company’s Audited Accounts for the year ended December 31, 2013 would be considered at

the meeting. Dividend pay-out would also be considered at the Board Meeting.

JOSEPHINE IGBINOSUN



NPF MICROFINANCE BANK PLC

February 25, 2014


NPF Microfinance Bank Plc has notified The Exchange of the appointment of Mr Lawal Akinwunmi

Mohammed as its Acting Managing Director.

Mr Lawal Akinwunmi Mohammed: Born in 1964, obtained the Higher National Diploma (HND)

from Yaba College of Technology, Lagos in 1996 before obtaining Masters of Business

Administration (MBA) in 2003.

Working Career: Mr Lawal began his working career with Fidelity Bond Insurance Brokers as a

Principle Clerk - 1986 before joining The Federal Savings Bank Ltd from 1986 to 1993 as a Cashier

Officer reaching the post of an Officer in the Treasury Unit. From 1993 - 1994, he was with United

Commercial Bank Ltd also as an Officer in the Reconciliation Unit.

Mr Lawal Akinwunmi Mohammed joined the Nigeria Police Force Microfinance Plc (NPF

Microfinance Bank Plc) formerly NPF Community Bank Plc in 1995 where he worked till date,

attaining several positions: Head of Accounts - 1995 to 1999, Branch Manager (2005), Senior

Manager (Head of Treasury) – 2005 - 2007, Assistant General Manager (Financial Control and

Operations) – 2007 - 2010.

He is a member of Microfinance Certificate Program (MCP), Fellow, Chartered Institute of

Bankers (FCIB) and an Associate, Certified Pension Institute of Nigeria. He was the Deputy

General Manager (Operations)/Head, Risk Management Enterprise of the bank prior to this

appointment.

JOSEPHINE IGBINOSUN



PZ CUSSONS NIGERIA PLC February 25, 2014

Change of Venue of Extraordinary General Meeting

PZ Cussons Nigeria Plc has notified The Nigerian Stock Exchange of the change of venue of the

company’s forthcoming Extraordinary General Meeting scheduled to hold on Thursday, March

13, 2014 at 11:00.a.m. as follows:

From

Golden Tulip Hotel, Amuwo Odofin, Festac Town

To

Etal Hotel and Halls, Plot 30, Kudirat Abiola Way, Oregun, Ikeja

The date and time of the meeting remain the same.

JOSEPHINE IGBINOSUN



ABBEY BUILDING SOCIETY PLC February 26, 2014


Abbey Building Society Plc has notified The Nigerian Stock Exchange that the company’s Board of

Directors will meet on Thursday 13th March 2014 to consider the company’s audited financial

statements for the year ended 31st December 2013.

The resolutions of the Board would be communicated to the market immediately after the

meeting.

JOSEPHINE IGBINOSUN



AIICO INSURANCE PLC February 26, 2014

Resignation from the Board

AIICO Insurance Plc has notified The Nigerian Stock Exchange that Chief Rasheed A. Gbadamosi,

OFR and Mr Henry Semenitari have resigned from the Board of the Company.

Mr Semenitari’s resignation was necessitated by his recent appointment as the Managing

Director/Chief Executive Officer of Unity Bank Plc. The resignations took effect from February 10,

2014.

JOSEPHINE IGBINOSUN



FORTE OIL PLC February 27, 2014


Forte Oil Plc has notified The Nigerian Stock Exchange that its Board of Directors will meet on

Thursday, 27th March, 2014 to discuss, among others, the upcoming Annual General Meeting of

the shareholders of the Company taking place on Friday, 28th March, 2014.

JOSEPHINE IGBINOSUN



IHS NIGERIA PLC February 27, 2014

Placing of Full Suspension

IHS Nigeria Plc has, through its Stockbroker – Atlas Portfolios Limited - notified The Nigerian Stock

Exchange that it has obtained a Court Sanction in respect of the Scheme of Arrangement of IHS

Nigeria Plc.

Consequently, the share price of IHS Nigeria Plc has been placed on FULL SUSPENSION, TODAY,

FEBRUARY 27, 2014 to enable the company complete the Scheme of Arrangement which will

result in the delisting of its shares from the Daily Official List of The Nigerian Stock Exchange.

JOSEPHINE IGBINOSUN



HONEYWELL FLOUR MILLS PLC February 28, 2014


Honeywell Flour Mills Plc has notified The Exchange that its Board of Directors is scheduled to

hold its quarterly meeting March 12, 2014

JOSEPHINE IGBINOSUN



SKYE BANK PLC March 10, 2014


In compliance with the Appendix III of the General Undertaking of The Nigerian Stock Exchange,

Skye Bank Plc has notified The Exchange that its Board of Directors is scheduled to meet to

deliberate on the Bank’s Audited Financial Statements for the Year ended December 31, 2013,

which may include a proposal for the recommendation of dividend for Shareholders’ approval at

its next Annual General Meeting.

The details for the Board of Directors Meeting have been scheduled as follows:

Date: Tuesday, March 25, 2014 on Friday 21, 2014

Time: 11: 00 a.m.

Venue: The Boardroom, Skye Bank Plc Head Office- 3, Akin Adesola Street, Victoria Island,

Lagos

JOSEPHINE IGBINOSUN



March 11, 2014

Ecobank Transnational Incorporated PRESS RELEASE

Ecobank Transnational Incorporated Announces the Setting up of Board Search Committee

Ecobank Transnational Incorporated today announced that it has set up a new committee to

search for new Board members. The seven member search Committee consists of two former

chairmen (Mr. Gervais Djondo and Chief Philip Asiodu), two representatives of the current board

and three shareholder representatives.

The Committee has been established as part of the detailed 51 point Governance Action Plan

agreed by shareholders at an Extraordinary General Meeting held at Ecobank’s pan African

Centre in Lomé on Monday 3 March 2014. It will be assisted by an external search firm.

The move to reconstitute the Board at Ecobank Transnational Incorporated follows

recommendations made by West African regulators of the Stock Exchanges where Ecobank is

listed as well as from a report by the Global Board Center of the renowned Swiss business school,

the International Institute for Management Development (IMD). The IMD report by their Global

Board Center followed a review of ETI’s corporate governance, including the size and constitution

of the Board, its procedures for managing related party transactions as well as its committee

structures and incentive policies.

The search Committee will recommend potential Board members to the shareholders of Ecobank

Transnational Incorporated at their Annual General Meeting, to be held in June.

At their Extraordinary General Meeting on Monday 3 March the shareholders agreed to limit the

size of the Board to a maximum of fifteen people. It will comprise representatives of both

majority and minority shareholders; executives and independent directors. In addition the

reconstituted Board will reflect the geographical spread of Ecobank Transnational Incorporated

as well as a more balanced gender and professional mix.

JOSEPHINE IGBINOSUN



AFROMEDIA PLC

March 11, 2014

APPOINTMENT OF DIRECTORS

Afromedia Plc has notified The Exchange that four (4) Non-Executive Directors have been

appointed into the company’s Board as follows:

1) Mr Idowu Iluyomade – Chairman

2) Mr Ernest C. Ebi (MFR) - Director

3) Mr Victor Ogiemwonyi – Director

4) Ibrahim Isiyaku (SAN) - Director

Mr I.O Iluyomade: - (Chairman)

Idowu IIuyomade attended the International School, University of Ibadan and trained as a Lawyer

at the University of Ife (now Obafemi Awolowo University) IIe-Ife and the Nigerian Law School. He

was subsequently called to the Nigerian Bar in 1982 and has since been in private legal practice.

Mr Iluyomade is a Pastor of the Redeemed Christian Church of God (RCCG), presides over the City

of David Parish of the Church. He is also a Provincial Pastor in RCCG and head of the Apapa Family

of the Church.

As a Lawyer, Mr Idowu is an advocate who enjoys the essence of advocacy and attends Court

regularly, representing high net worth clients and blue chip Companies. His interest lies in

commercial practice and in particular International Trade Finance, Mergers and Acquisitions, and

International Joint Ventures, Energy Law, Commercial Law, Shipping, Corporate, Registration of

Foreign Judgements, Receiverships, Trade Marks and Patents, Banks, Banking, Litigation,

Construction Law, Insurance, General Litigation, Debt Recovery.

He is a Board Member of Aboil Energy Services Ltd – Managing Director, Axiom IT Systems Ltd -

Chairman, Visible Assets Ltd - Chairman among other Boards appointments.

He has attended various International Seminars on leadership and training. He is also a member

of the Nigerian Bar Association and Ikoyi Club 1938. Mr Idowu was the Vice Chairman, Pastor

Enoch Adeboye Endowment Fund, University of Lagos and University of Ibadan.

He is married with three children.


Mr Victor Ogiemwonyi - (Director)

Mr Ogiemwonyi was until 1991 with former NAL Merchant Bank Plc, the oldest and one of the

foremost merchant banking houses in Nigeria where he received his investment banking training.

He also worked as the pioneer Chief Executive Officer for Financial Derivatives Company Ltd, a

foremost Financial Advisory Firm in Lagos.

He earned a BBA in Accounting and an MBA in 1981 from Texas Southern University. An alumnus

of LBS Chief Executive programme, he has attended several courses both locally and abroad,

including INSEAD and The New York Institute of Finance. Mr Ogiemwonyi is a chartered

stockbroker and a member of several professional bodies. He is vice chairman of the Association

of Issuing Houses of Nigeria and member, Nigerian Institute of Management (NIM).

A member of several capital market committees, he is at present, a fellow and served as council

member of the Chartered Institute of Stockbrokers (CIS) and chairman of the Institute’s Technical

Research Committee and Administrative Proceedings Committee (APC) of the Securities and

Exchange Commission (SEC).

Mr Ogiemwonyi is also on the board of the National Association of Securities Dealers (NASD)

where he is chairman of the technical committee on the establishment of an alternative

securities trading platform. Other bodies in which he is a member include: Association of Pension

Fund Managers, Nigerian-American Chamber of Commerce; Nigerian-South African Chamber of

Commerce and Institute of Directors (IOD).

A widely read columnist, Mr Ogiemwwonyi is presently a National Council member of The

Nigerian Stock Exchange.

Mr Ernest C. Ebi - (Director)

For over 30 years, Mr Ernest Chukwudi Ebi has been leading business transformation initiatives at

various enterprises within and outside the financial services space.

Ernest attended Holy Ghost College Owerri between 1970 and 1972. He thereafter proceeded to

Howard University, Washington DC USA where he graduated with a Bachelor of Business degree

in Marketing in 1978. He also obtained an MBA from the same University in 1979. Ernest also

attended management and leadership development programs in IMD Switzerland, Harvard,

Oxford-Said Business School.

Ernest’s Professional experience and expertise spans the full spectrum of executive leadership,

financial goals delivery, business performance management, human resources capacity building,

and general business performance management.


He commenced his working career in the United States of America as an Accounts Technician

with the National Association of Counties, Washington DC in 1976 and subsequently worked at

the Federal Savings & Loans Association Washington DC where he served as the Assistant Vice-

President Community Federal Savings & Loans Association.

In 1981, Mr Ernest returned to Nigeria and joined the International Merchant Bank Plc, serving in

various capacities and also as part of executive management. He went on to serve in leadership

positions in other notable banking sector organisations like:

African Continental Bank – Executive Director, Corporate Banking and later Managing

Director/Chief Executive (1993 - 1995)

New Nigerian Bank - Managing Director/Chief Executive (1995 - 1998)

Diamond Bank Plc - Deputy Managing Director & COO (1998 - 1999)

In June 1999, Mr Ebi was appointed Deputy Governor, Central Bank of Nigeria where his tenure

crossed two key portfolios of the regulatory banking authority over a 10-year period:

Central Bank of Nigeria - Deputy Governor, Policy (1999 - 2004)

Central Bank of Nigeria- Deputy Governor, Corporate Services (2004 - 2009)

He is a board member of the following Organisations:

AIICO Pension Managers – Member

Sheba Exploration and Production - Member

Member, Board of Trustees - Pastor E.A. Adeboye University of Lagos N50m Endowment

Fund

Newton Energy (A subsidiary of Seplat) - Member

Profiliant Development Resources – Chairman Advisory Board

He is married with 3 children

JOSEPHINE IGBINOSUN



March 12, 2014

ECOBANK TRANSNATIONAL INCORPORATED PRESS RELEASE

Ecobank Transnational Incorporated Announces New Group CEO

Ecobank Transnational Incorporated has announced the departure of Group CEO Mr Thierry

Tanoh with effect from 12 March 2014. Effective the same date he will no longer be a Director of

ETI. Mr Tanoh joined the Ecobank Group as CEO designate in July 2012 and commenced his

executive role in October 2012 prior to being appointed Group CEO in January 2013. He will be

replaced by Mr Albert Essien, currently Deputy CEO/Group Executive Director for Corporate and

Investment Bank, with immediate effect. Mr Albert Essien has been at Ecobank for more than

twenty years rising to the position of Deputy Group CEO two years ago.

Prior to becoming Deputy CEO Mr Essien was the Regional Head for the Anglophone West Africa

(excluding Nigeria) and Eastern and Southern Africa (ESA) regions. He started his banking career

in 1986 with the National Investment Bank in Accra, Ghana and joined the Corporate Banking

Department of Ecobank Ghana in 1990. In 1997, he became Country Risk Manager. He was

appointed Deputy Managing Director in 2001 and became Managing Director in December 2002.

Albert Essien has a degree in Economics from the University of Ghana and is an alumnus of the

Executive Development Program of INSEAD (France / Singapore). He is also an honorary fellow of

the Chartered Institute of Bankers, Ghana.

The Board of Directors of ETI also announced that, in line with a directive the Securities and

Exchange Commission of Nigeria, Mrs. Laurence do Rego is reinstated as Group Executive

Director of Finance and Risk with immediate effect.

During their Board meeting the Directors reaffirmed their commitment to implementing the

detailed 51 point Governance Action Plan adopted by shareholders at an Extraordinary General

Meeting held at Ecobank’s Pan African Centre in Lomé on 3 March 2014. The plan, which is

expected to be implemented by the end of April 2014, aims to strengthen governance within the

Ecobank Group.

JOSEPHINE IGBINOSUN



March 12, 2014

COURTEVILLE BUSINESS SOLUTIONS PLC Notice of Board Intention to Recommend Payment of Dividend

Courteville Business Solutions Plc has notified The Nigerian Stock Exchange of the intention of its

Board to recommend payment of dividend for the year ended December 31, 2013.

According to the Company, due to the unavailability of some members of its Board to formally

convene a meeting, the resolution approving the recommendation of payment of dividend shall

be circularized to the members of the Board for execution.

The written resolution and the date of the Annual General Meeting upon execution by the Board

of Directors of the Company shall be communicated to Shareholders

JOSEPHINE IGBINOSUN



March 14, 2014

HONEYWELL FLOUR MILLS PLC Resignation of a Director

Honeywell Flour Mills Plc has notified The Nigerian Stock Exchange of the resignation of Mr. Jens

Erik Mollenbach from the Board of the company.

Mr. Mollenbach’s resignation was on health grounds.

JOSEPHINE IGBINOSUN



MRS OIL NIGERIA PLC March 14, 2014

Mrs Oil Nigeria Plc- Notice of Board Meeting

Mrs Oil Plc has notified The Exchange that its Board of Directors is scheduled to meet on

Thursday, March 27, 2014 at No. 8 McCarthy Street, Onikan, Lagos to deliberate upon the

following:

2013, Audited Report and Accounts

The Annual General Meeting of the Company

Recommendation of Dividend

Date of Closure of Register and Transfer Books, amongst others

The company has committed to update the Exchange of further developments on the meeting.

JOSEPHINE IGBINOSUN



ASO SAVINGS & LOANS PLC

March 18, 2014

Notification – Proposed Acquisition of Union Homes Savings & Loans Plc by Aso Savings &

Loans Plc

Aso Savings & Loans Plc has notified The Nigerian Stock Exchange of its intention to acquire Union Homes

Savings & Loans (UHSL) Plc.

As part of Central Bank Nigeria’s (CBN) approved restructuring exercise, Union Bank of Nigeria Plc decided

to sell UHSL Plc. After a bidding process, Aso Savings was selected as the preferred bidder in October,

2013.

Towards achieving this objective, Aso Savings proceeded to execute a Memorandum of Understanding

(MOU) with UBN Plc under the supervision of the CBN.

The Board of ASO has also approved the bank to implement a Transaction Implementation Agreement

(“TIA”) amongst ASO, Union Homes Investment Nigeria Limited (“UHNL”), UHSL and UBN Plc. the TIA was

executed and submitted to CBN on December 31, 2013. UHNL is the Special Purpose Vehicle through

which ASO will acquire the UBN divestment shares and recapitalised UHSL.

Subsequent to the execution of the TIA, the CBN has issued a ‘No Objection Letter’ permitting ASO to

proceed with the transaction. This is required to enable ASO proceed with the signing of a Share Purchase

Agreement (“SPA”) between ASO and UBN Plc.

JOSEPHINE IGBINOSUN



CHEMICAL AND ALLIED PRODUCTS PLC

March 24, 2014

CHEMICAL AND ALLIED PRODUCT PLC- BOARD MEETING

Chemical and Allied Products Plc has notified The NSE that at its Board of Directors meeting held

on Thursday, March 20, 2014, the following decisions were taken:

1 Date of 2014 Annual General Meeting:

That it was resolved that the Annual General Meeting of the Company be and is hereby convened

for Thursday, June 19, 2014 at the Golden Tulip Festac, Amuwo Odofin, Lagos State.

2 Dividend

It was resolved that further to the interim dividend of 125 kobo paid on November 19, 2013, a

final dividend of 100 Kobo per Ordinary Share of 50 kobo each be and is hereby recommended,

declared payable on June 20, 2014 to Shareholders on the Register of Members at the close of

Business on May 19, 2014.

3 Closure of Register and Transfer Books

It was resolved that the Register of Members and Transfer Books of the company will be closed

from May 20, 2014 to May 23, 20104 (both dates inclusive) for the purposes of payment of the

dividend.

4 The Approved Financial Statements for the Year ended 31st December, 2013

That the approved financial statements for the year ended 31st December, 2013 will be uploaded

to The NSE Issuer’s Portal soon.

JOSEPHINE IGBINOSUN



UNITY BANK PLC

March 24, 2014

Resignation of a Director

Unity Bank Plc has notified The Nigerian Stock Exchange that its Board of Directors met on

Thursday, March 13, 2014 and accepted the resignation of Mr. Rislanudeen Muhammad as the

Acting Managing Director/Chief Executive Officer.

Mr. Muhammad, via his resignation letter dated January 10, 2014, informed the bank that he

would remain in office till February 10, 2014 while he will utilise the balance of his 30 days leave.

JOSEPHINE IGBINOSUN



Airline Services & Logistics Plc

March 24, 2014

Resignation of a Director and Declaration of Dividend

Airline Services & Logistics Plc has notified The Nigerian Stock Exchange of the resignation of Mr.

Alfred Rigler as a director of the Company. The notice of resignation was presented to the Board

of Directors of the Company and accepted at its meeting held on Friday, March 21, 2014.

At the same meeting, the Board resolved to declare a dividend of 12 kobo per share for the 2013

financial year and scheduled the Company’s Annual General Meeting to hold on 12th June 2014 at

12 noon at the Golden Tulip Hotel, Amuwo Odofin, Lagos.

JOSEPHINE IGBINOSUN



GLAXOSMITHKLINE CONSUMER NIG PLC

March 24, 2014

Changes in the Board

The Company has notified The Exchange that at its Board Directors’ meeting held on March 7, 2014,

accepted a notice of resignation and retirement from the Board of the Company from Chief Olusegun

Osuneke, OFN, OON, Chairman of the Board, with effect from the conclusion of the next Annual General

Meeting holding on June 11, 2014.

Also, the Company appointed Mr. Chinedum Okereke as a Director of the Company effective March 16,

2014.

Chinedu Anthony Okereke holds B.Sc. in Microbiology from University of Nigeria, Nsukka in 1987 before

obtaining M.Sc. in Public Health/Environment Microbiology (1999) and a Diploma Certificate in Chemical

Engineering (1996) all from the University of Benin. He also has an MBA from Pan African University (Lagos

Business School) in 2008.

He stared his professional career with Dubic Brewery Aba as a Training and Technical Development

Manager at the Company’s Lagos Office (Dec ’97 - Jan ’01) and became the Project Co-ordinator of the

Company from Feb ’01 –Feb ’03.

Chinedu, joined Guinness Nigeria Plc as a Continuous Improvement Manger (Lagos Brewery Office)-

(Feb’03-Mar’04),charged with the responsibilities of facilitating continuous improvement group and coach

other facilitators to deliver QCDSM Stretch targets using various WCM and CI tools (Process controls,

Performance measurement, Root cause analysis, FPS, Ishikawa, Pareto, 5S, Quick changeovers among

other responsibilities. In March 04 – Dec ‘05, he became the Packaging Manager-Lagos Brewery while

from Jan ’06 to April ’06 he became the Ag Head of Logistics and Supply Planning.

He later worked with Globacom Limited, Recharge Card Manufacturing and Supply Chain/Warehousing

Operations as a General Manager (March 06 – August 06) and from August ’06 to Dec ’08, he joined Coca-

Cola Nigeria and Equatorial Africa Limited (comprising ten African Countries-Nigeria, Ghana, Gambia,

Guinea, Equatorial Guinea, Guinea Bissau, Liberia, Sierra-Leone, Cape Verde and Sao Tome & Principle)as

an Operation Manager while from January ’09 to June ’06, he became the Head, Business Planning &

Strategy.

On joining the GlaxoSmithKline Plc, he became the Site Director (Nigeria & Anglophone West Africa) - (Jul

’09 – March ’13) and from March ’13 to Sept ’13, he was the West African/African Geo Expansion Lead.


He has an Associate Membership Certificate from the Institute of Brewing London (1995), a Diploma

Master Brewer Certificate from the same Institute and was the Regional Supply Chain Head, Africa in

GlaxoSmithKline Plc prior to this appointment. He was born in April 1, 1966.

JOSEPHINE IGBINOSUN



UNITED BANK OF AFRICA PLC

March 27, 2014

Changes to the Board of United Bank for Africa

United Bank for Africa Plc has notified The Nigerian Stock Exchange that the Central Bank of

Nigeria (CBN), vide a Circular dated March 13, 2014 titled ‘’Transmutation of Executive Directors

to Non-Executive Directors of Deposit Money Banks’’ directed all Banks to note and company

with the directive that all Executive Directors aspiring to take up Non-Executive Directorship

positions in their Banks or subsidiaries, which are under the supervision of the Central Bank of

Nigeria or the Nigeria Deposit Insurance Corporation, are required to serve out a minimum

‘’cooling-off’’ period of 3 years.

In this vein, the Company said the former Executive Directors, Mr. Emmanuel Nnorom and Mr.

Abdulkadir Bello who were recently appointed as Non-Executive Directors (refer to Market

Bulletin LCU/24/01/029) will not be eligible to take up the role within the UBA Group until 3

years have expired after their exit from the Bank

They have by this Circular resigned from the Board with immediate effect.

JOSEPHINE IGBINOSUN



BERGER PAINTS NIGERIA PLC

March 27, 2014

Appointment of New Director

Berger Paints Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors met

on March 20, 2014 and appointed Mr. Oluwole Oladipupo Abegunde as a Non-Executive Director.

Oluwole Oladipupo Abegunde first had his Advanced Level School Certificate in June 1983 before

receiving a Bachelor of Science (B.Sc.) in Agricultural Economics from the University of Ibadan in

June 1987. He also has an MBA (Master of Business Administration) from the same University in

1990.

He started his professional career with Unilever Nigeria Plc in the Marketing Division as a branch

Manager, Surf/Industrial Detergent in 1990 before joining Afribank Nigeria Plc as a Credit Officer

(1990 - 1992). From Nov. 1992 - 1996, he worked with Emerald Finance and Investment Limited

as Senior Manager and Head of Operations and later joined Reward Investments and Services (A

Member of The Nigerian Stock Exchange), 1996 – 1999, as a General Manager.

Mr Abegunde joined NAL Bank Plc as an Assistant General Manager, seconded to Nigerian

Stockbrokers Limited (2000 - 2003) charged with responsibilities of Marketing and Management

of Portfolio of Institutional and high network clients among other responsibilities.

He is a Director, FTN Cocoa Processors Plc, Director, e-tranzact International Plc and Chairman,

Finance and General Purpose Committee of the company. He is also a Director, Integrated Diaries

Limited among other numerous board appointments. He is currently the Group Managing

Director/Chief Executive of Meristem Securities Limited.

JOSEPHINE IGBINOSUN



WAPIC INSURANCE PLC

March 27, 2014


Wapic Insurance Plc has notified The Nigerian Stock Exchange that following the divestment by

Access Bank Plc from Wapic Insurance Plc, the following Access Bank Executives who hitherto

represented the Bank’s interest on the Board of Wapic Insurance tendered their resignation:

1. Mr. Taukeme Koroye - Non-Executive Director

2. Mrs. Ojini Olaghere - Non-Executive Director

3. Mr. Victor Etuokwu - Non-Executive Director

The Board also received the resignation of Mrs. Titilayo Osuntoki, a Non-Executive Independent

Director of the Company following her appointment as an Executive Director of Access Bank. All

the resignations were accepted with effect from January 16, 2014.

Furthermore, the Board of Directors of Wapic Insurance Plc has appointed the following new

Directors:

1. Ms. Chizoba Ufoeze - Non- Executive Director

2. Mr. Folusho Alliyu - Executive Director

3. Mr. Bode Ojeniyi - Executive Director

4. Mr. Femi Obaleke - Executive Director

Ms. Chizoba Ufoeze: - Non-Executive

She is a graduate of the University of Nigeria Nsukka (B.Sc. in Urban & Regional Planning) and

obtained her M.Sc. in Investment Management from the City University Business School, London.

She also has an MBA from the Middlesex University Business, London. Ms. Ufoeze is an

Investment Analyst with over 22 years’ experience in the financial services industry.

Ms Ufoeze began her career as a Research Assistant with African Development Consulting Group

and an Investment Officer with African Development Bank. She also worked with BGL Limited as

an Investment Analyst and then as the Head of Investments of the Wealth Management Group.

She was the CEO of United Alliance Company of Nigeria Limited prior to this appointment. Her

appointment was effective January 16, 2014 and will be presented before the Shareholders at the

Company’s next Annual General Meeting (AGM) for approval as required by the Company’s

Articles of Association.


Mr. Folusho Alliyu: - (Executive Director).

Holds a Bachelor of Science degree in Insurance from the University of Lagos. He is an Associate

member of the Chartered Insurance Institute of U.K with over 20 years’ experience in Insurance

Underwriting/Claims both in Nigeria and Internationally. Prior to joining Wapic Insurance Plc, Mr.

Alliyu was the Chief Underwriting Officer/General Manager at Custodian & Allied Insurance Plc.

His appointment has been approved by NAICOM is effective March 6, 2013

Mr. Bode Ojeniyi: – Executive Director:

Mr. Ojeniyi holds a B.Sc. and M.Sc. in Agric. Economics from the University of Ibadan. He also has

an MBA in Strategic Management as well as in Finance from Ogun State University and Edinburgh

Business School, Heriot-Watt University, U.K respectively. He has over 22 years’ experience in the

banking industry (Access Bank Plc and EcoBank Nig. Plc). Prior to joining Wapic Insurance Plc, Mr.

Ojeniyi was the Head, Business Banking Southwest Region at Access Bank Plc. His appointment

which is effective January 16, 2014 has been communicated to the National Insurance

Commission for approval.

Mr Femi Obaleke: – Executive Director

Mr. Obaleke holds a B.Ed. from the University of Ibadan and an MBA from Abubakar Tafawa

Balewa University, Zaria. He has over 22 years work experience in the banking industry. Prior to

joining Wapic Insurance Plc, Mr. Obaleke was the Group Head, Business Banking at Access Bank

Plc. His appointment which is effective January 16, 2014 is awaiting the approval of NAICOM.

JOSEPHINE IGBINOSUN




March 28, 2014

Appointment of Group Chief Executive Officer for Dangote Flour Mills Plc

Dangote Flour Mills Plc has notified The Nigerian Stock Exchange of the resignation of Mr.

Nthabisheng Segoale, the Group Chief Executive Officer of the Company effective March 4, 2014.

The Company also announced the appointed of Mr. Noel Doyle to replace Mr. Nthabisheng as the

Group Chief Executive Officer. Profile of Mr. Noel will be communicated to the market in due

course.

JOSEPHINE IGBINOSUN



GLAXOSMITHKLINE CONSUMER NIG PLC

March 28, 2014

Changes in the Board

GlaxoSmithKline Consumer Nigeria Plc has notified The Exchange that its Board Directors met on March 7,

2014 and accepted a notice of resignation and retirement from the Board of the Company from Chief

Olusegun Osunkeye, OFR, OON, Chairman of the Board, with effect from the conclusion of the next Annual

General Meeting holding on June 11, 2014.

Also, the Company appointed Mr. Chinedum Okereke as a Director of the Company effective March 16,

2014.

Chinedu Anthony Okereke holds a B.Sc. in Microbiology from University of Nigeria, Nsukka, 1987, before

obtaining M.Sc. in Public Health/Environment Microbiology (1999) and a Diploma Certificate in Chemical

Engineering (1996) all from the University of Benin. He also has an MBA from the Pan African University

(Lagos Business School) in 2008.

He stared his professional career with Dubic Brewery Aba as Training and Technical Development Manager

at the Company’s Lagos Office (December 1997 – January 2001) and became the Project Co-ordinator of

the Company from February 2001 – February 2003.

Chinedu joined Guinness Nigeria Plc as a Continuous Improvement Manager (Lagos Brewery Office) -

(February 2003 – March 2004), charged with the responsibilities of facilitating continuous improvement

group and coach other facilitators to deliver QCDSM Stretch targets using various WCM and CI tools

(Process Controls, Performance Measurement, Root Cause Analysis, FPS, Ishikawa, Pareto, 5S, Quick

Changeovers among other responsibilities. In March 2004 – December 2005, he became the Packaging

Manager, Lagos Brewery while from January 2006 to April 2006 he was the Ag Head of Logistics and

Supply Planning.

He later worked with Globacom Limited, Recharge Card Manufacturing and Supply Chain/Warehousing

Operations as a General Manager (March 2006 – August 2006) and from August 2006 to December 2008,

he joined Coca-Cola Nigeria and Equatorial Africa Limited (comprising ten African Countries, Nigeria,

Ghana, Gambia, Guinea, Equatorial Guinea, Guinea Bissau, Liberia, Sierra-Leone, Cape Verde and Sao

Tome & Principle) as Operations Manager while from January 2009 to June 2006, he was the Head,

Business Planning & Strategy.

On joining GlaxoSmithKline Consumer Nigeria Plc, he became the Site Director (Nigeria & Anglophone

West Africa) - (July 2009 – March 2013) and from March 2013 to September 2013, he was the West

African/African Geo Expansion Lead.


Chinedu Anthony Okereke has an Associate Membership Certificate from the Institute of Brewing, London

(1995), a Diploma Master Brewer Certificate from the same Institute and was the Regional Supply Chain

Head, Africa in GlaxoSmithKline Plc prior to this appointment.

JOSEPHINE IGBINOSUN



OANDO PLC

March 28, 2014

Oando Energy Resources Extends Completion Date for Acquisition of Nigerian Upstream Oil and

Gas Business of Conocophillips

Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company”) (TSX: OER), has

announced that, further to its press releases dated December 20, 2012, September 16, 2013,

November 28, 2013, January 31, 2014, and March 3, 2014, the outside date for completion of the

proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE:

COP) (the “ConocoPhillips Acquisition”) has been extended to April 30, 2014.

Pursuant to an amendment agreement executed on March 27 2014, Oando Energy Resources

and ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips

Acquisition from March 31, 2014 to April 30, 2014 to enable the companies to satisfy all closing

conditions including the anticipated consent of the Honourable Minister of Petroleum Resources

in Nigeria. In consideration of this extension OER has consented to increasing its deposit by $25

million on April 17, 2014, if the consent of the Honourable Minister of Petroleum Resources is not

received on or before April 11, 2014.

JOSEPHINE IGBINOSUN



UNITY BANK PLC

March 28, 2014

Resignation of Nu’uman Barau Danbatta, Chairman, Board of Directors

Unity Bank Plc has announced the voluntary resignation of Nu’uman Barau Danbatta, OON, mni

as a non-Executive Director and Chairman of the Bank, with effect from 24th March 2014.

The Bank also announced the appointment of Alhaji Lamis Shehu and Mr. Thomas Akor Etuh as

Chairman and Vice Chairman of the Board of Directors respectively. Unity Bank Plc informs that it

has filed application regarding these appointments to the Central Bank of Nigeria (CBN).

JOSEPHINE IGBINOSUN



ZENITH BANK PLC

March 31, 2014

Appointment of Group Managing Director/Chief Executive Designate for Zenith Bank Plc

Zenith Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Peter

Olisamedua Amangbo as the Group Managing Director/CEO designate of the bank. This

appointment is effective June 11, 2014.

Prior to this appointment, Mr. Amangbo has been an Executive Director of the bank snce 2005

and has over twenty one year’s cognate banking experience all of which has been with Zenith

Bank Plc.

He previously worked with PricewaterhouseCoopers as a Senior Consultant in the Financial

Services Group. Mr. Amangbo holds a B.Eng. Degree (Elect4rical and Electronics Engineering)

from University of Benin and an MBA from the University of Warwick, Coventry in the United

Kingdom. He is a Fellow of the Institute of Chartered of Accountants of Nigeria (FCA).

JOSEPHINE IGBINOSUN



UBA CAPITAL PLC

April 1, 2014

Declaration of Dividend

UBA Capital Plc has notified The Exchange that further to the submission of its audited financial

statements to The Exchange a dividend of 25 kobo per share is also being proposed. The Closure

of Register and Payment dates with respect to the dividend will be communicated as soon The

Exchange receives them from the company.

JOSEPHINE IGBINOSUN



COMPUTER WAREHOUSE GROUP PLC

April 3, 2014

Board Meeting Notification

Computer Warehosue Group Plc has notified The Nigerian Stock Exchange that the company’s

Board of Directors is scheduled to meet on Thursday, 17th April, 2014 at Block 54, Plot 10, off

Rufus Giwa Street, off Adebayo Doherty Road, Lekki Phase 1, Lagos at 12 noon.

Key matters on the meeting agenda include:

• Appointment of new Director

JOSEPHINE IGBINOSUN



OANDO PLC

April 3, 2014

PRESS STATEMENT

Oando PLC Announces Completion of Sale of East Horizon Gas Company to Seven Energy International

Limited

Oando PLC has announced that it has completed the sale of the entire issued share capital of one of its

wholly owned subsidiaries, East Horizon Gas Company Limited (“EHGC”) to Seven Energy International

Limited (“Seven Energy”) for a total gross consideration (the “Consideration”) of up to US$250 Million.

The Consideration consists of:

i. An initial payment of US$100 Million in cash;

ii. The assumption by Seven Energy of existing liabilities of EHGC, including approximately US$62

Million of bank indebtedness; and

iii. The balance in deferred payments due on achievement of certain operational and contractual

conditions. It is expected that these conditions will be satisfied during the course of 2014.

EHGC is a special purpose vehicle operating a 128km, 120mmscfd, 18-inch natural gas transmission and

distribution pipeline traversing the Akwa Ibom and Cross River States. EHGC also has a gas sales

agreement to supply up to 25 mmscfpd, increasing to 50 mmscfpd in 2016, under a 20 year “take-or-pay”

agreement expiring in 2032.

JOSEPHINE IGBINOSUN



TRANSNATIONAL CORPORATION OF NIGERIA PLC

April 4, 2014


Transnational Corporation of Nigeria Plc (Transcorp) has notified The NSE that sequel to its Board of

Directors’ meeting held on March 31, 2014 the board unanimously accepted the resignation of Alhaji

Mohammed Nasir Umar from the Board.

Also at the meeting, the appointment of Abdulquadir Jeli Bello on the Board of the Company with effect

from April 1, 2014 was unanimously approved subject to the approval of the shareholders.

Abdulqadir Jeli Bello B.Sc., ACA, FICA was born on July 13, 1962. He holds B.Sc. in Accounting from Bayero

University, Kano (1984) and an ACA Certificate from the Institute of Chartered Accountants of Nigeria

(CAN). He also has a certificate in Science, Technology and Society in Foundations of Nigeria Culture.

He began his working career as an Audit Assistant from Deloitte Adetona Isichei & Co (1985 - 1988) before

joining Gamji Bank of Nigeria Plc (International Trust Bank Plc) where he spent 8 years (1988 - 1996) rising

from Special Assistant to the Chief Executive to becoming the Manager/Branch Manager, Abuja Office;

charged with the responsibilities of Branch Marketing, Operations and Credit Management among other

responsibilities.

In 1996, he joined the United Bank for Africa Plc (UBA) as a Senior Manager, Commercial Credit

Assessment and became a Principal Manager/Head of Individual Assessment (1998 - 2001). Between

January 2002 to August 2012, Abdulqudir Bello occupied several key positions in the bank: Assistant

General Manager/Head, Credit Processing and Analysis/Assistant to Head of Credit Risk Management -

2005, Deputy General Manager/Deputy Chief Credit Officer (DCCO) - 2006, General Manager/Chief Credit

Officer (CCO) - 2009, Executive Director, North - 2009, and the Executive Director, Risk Management -

2011.

Mr Bello has attended many courses both within and outside Nigeria. Among which are: Corporate

Banking Strategy, Prague, Czech Republic organised by Euromoney Training EMEA, Advance Project

Finance – Lagos Nigeria, International Oil Supply, Transportation, Refining and Trading – Oxford, United

Kingdom among others. He was the Executive Director UBA Plc, Far North prior to this appointment.

He is married and a Nigerian by nationality.

JOSEPHINE IGBINOSUN



ECOBANK TRANSNATIONAL INCORPORATED

April 7, 2014

Ecobank Transnational Incorporated announces New Member of the Board of Directors

Ecobank Transnational Incorporated (ETI) announces the co-option of a new member of the Board of

Directors. On Monday 31 March 2014 Hewett Adegboyega O. Benson (48), became a Non-Executive

Director, representing AMCON on the board. The appointment of Mr. Hewett Benson brings the total

number of members of the Board of Directors of ETI to thirteen.

Mr. Benson has over 20 years’ experience in investment banking. He has worked in an executive capacity

at various institutions such as Enterprise Capital Management, Chapel Hill Denham Management, First

Funds; Asset & Resource Management, and Nigeria International Bank (Citibank). He has a first class

honours degree (B.Eng.) in Aeronautical Engineering from Imperial College of Science & Technology,

London and a masters’ degree (S.M.) in Aeronautics & Astronautics from the Massachusetts Institute of

Technology, USA. He is currently the Executive Director / CIO in charge of Asset Management at AMCON.

Asset Management Corporation of Nigeria (AMCON), Nigeria’s asset management corporation, was

established in 2010, with a mandate to stabilize and revitalize the country’s financial system. The

Corporation is currently the largest domestic issuer of bonds, with assets of over $31 billion, making it the

largest institutional holder of Nigerian bank stocks. AMCON currently hold approximately 10.4% of shares

in ETI as at 31 March 2014.

Mr. Benson is the representative of AMCON on the ETI Board. His membership of the Board of Directors of

ETI will be submitted for ratification by shareholders at their next Annual General Meeting, which is

scheduled to take place in June 2014.

JOSEPHINE IGBINOSUN



FCMB GROUP PLC

April 11, 2014

Notification of the Appointment of two Additional Non-Executive Directors

FCMB Group Plc has notified The Nigerian Stock Exchange of the appointment of Professor Oluwatoyin

Ashiru and Dr (Engr.) Gregory Ero as Non-Executive Directors of the company with effect from December

23, 2013.

Professor Ouwatoyin Ashiru

Professor Oluwatoyin Ashiru is a graduate of the University of Sussex, Brighton, UK where he obtained a

B.Sc in Materials Science and Engineering. He concluded his Ph. D at the University of Birmingham, UK in

Industrial Metallurgy.

He began his career as a lecturer in Mechanical Engineering at the Universities of Lagos and Ibadan

respectively before serving as Nigerian Senior Research Fellow at the International Tin Research Institute

in the UK. He is currently the Managing Director and CEO of Tricontinental Oil Services Ltd.

He is an accomplished Materials and Metallurgical Engineer with over 30 years of comprehensive

professional experience in academia, entrepreneurship, management, engineering technologies,

invention, and consulting for the enhancement of productivity in major industries worldwide.

He also has a strong background in program development and quality assurance, with an outstanding

history of managing projects from initial conception, through development, to implementation for major

oil and gas, chemical, petrochemical, steel production, and energy production industries worldwide. He

holds an exceptional record for executing mission-critical projects on schedule and within budget, and is

highly skilled on strategic planning, budget controls and problem solving. He also has an extensive

international experience in the UK, USA, Canada, Saudi Arabia, Bahrain, Far East and Asia.

Professor Ashiru has served on Joint Venture and Consortium Executive Committees and has participated

directly in claims negotiations and settlement agreements in excess of US$100 million. His wealth of

experience also includes membership on the Governing Board responsible for strategic and operational

decisions, and he was responsible for worldwide engineering operations for proposals and projects.

Professional Ashiru holds USA, British, European, Brazilian and other international patents for products

and systems that he invented. He is a recipient of several merit awards which include his recognition in

the USA as a “Professional with Extraordinary Ability”, listings in who is Who in the World and Dictionary

of International Biography, and the prestigious Distinguished Innovator Award of the Association of Tin

Producing Countries.


Dr. (Engr.) Gregory Omosigho Ero

Dr. (Engr.) Gregory Omosigho Ero is a graduate of the University of Ibadan with a B.Sc Hons in Chemistry.

He also attended the Imperial College, London and obtained an M.Sc and D.I.C. in Petroleum Engineering,

and also a DMS from Templeton College, University of Columbia New York and the Institute of

Management Development, Lausanne, Switzerland.

He began his career as a Petroleum Engineer in the Lagos Office of the Federal Ministry of Petroleum and

Energy and thereafter, was posted as Head, Federal Ministry of Petroleum Resources, Warri. He spent

much of his career in the Public Service, where he served in many capacities spanning three decades in the

petroleum industry at NNPC.

He has held many positions including CEO/Group General Manager of NAPIMS, NNPC; Managing Director,

National Engineering and Technical Company (NETCO) – JV owned by NNPC and Bechtel of the United

States; Managing Director, Integrated Data Services Limited (IDSL), a subsidiary of NNPC; General

Manager, Commercial, Nigeria LNG; General Manager, Human Resources Development, NNPC; Head

Central Purchasing and Supply Department, NNPC and Head of DPR, Federal Ministry of Petroleum

Resources, Warri.

Dr. Gregory Ero is a fellow of many professional bodies, including the Fellowship of the Nigerian Academy

of Engineering; Fellow, Nigerian Society of Engineers; Hon Fellow, Nigerian Society of Chemical

Engineering; Fellow, Institute of Directors of Great Britain. He is presently the Chairman/CEO of Arkleen

Oil & Gas Limited, Chairman, Cardinal Drilling Company Limited among others.

JOSEPHINE IGBINOSUN



DANGOTE SUGAR REFINERY PLC

April 17, 2014

RESIGNATION OF THE CHIEF FINANCE OFFICER – MR. SULEIMAN YUSUF

Dangote Sugar Refinery Plc has notified The Nigerian Stock Exchange of the resignation of its

Chief Finance Officer (CFO), Mr. Suleiman Yusuf.

Mr. Yusuf resigned from the services of the company on 31st March 2014 and his resignation was

accepted by the Board of Directors at its meeting held on Friday, 11th April 2014.

JOSEPHINE IGBINOSUN



SKYE BANK PC

April 17, 2014

Retirement and Appointment of Managing Director

Skye Bank Plc has notified The Nigerian Stock Exchange that its Board of Directors, at a meeting

held on Monday, April 14, 2014, approved the retirement of Mr. Kehinde Durosinmi-Etti, the

Bank’s Group Managing Director/Chief Executive Officer, to take effect from August 1, 2014.

The Board at the same meeting, in line with its succession plan, appointed Mr. Timothy Oguntayo

as the new Managing Director/Chief Executive Officer of the Bank. Mrs. Amaka Onwughalu was

also appointed the Deputy Managing Director of the Bank, with effect from April 15, 2014.

Mr. Timothy Oguntayo is an alumnus of the Prestigious INSEAD, Fontainebleau in France and a

Fellow of the Chartered Institute of Bankers of Nigeria. He is also an Associate of the Institute of

Chartered Accountants of Nigeria and has over two decades of banking experience in Corporate

Finance and Investment Banking, Business Development, Credit and Marketing and Operations.

He was appointed to the Board of the Bank on August 18, 2009 and was the pioneer MD/CEO of

Skye Financial Services Limited (the investment banking arm of Skye Bank) before the Bank’s

divestment from the company in 2012. He also served on the Board of Skye Stockbrokers Limited

and Law Union & Rock Insurance Plc. Mr. Oguntayo is currently a Director on the Board of

Kakawa Discount House Limited.

Prior to this appointment, Mr. Timothy Oguntayo was the Bank’s Executive Director responsible

for the supervision of Corporate and Investment Banking Group, Commercial Banking in the

South-West Region and all the international banking subsidiaries of the Bank.

Mrs. Amaka Onwughalu

Mrs. Onwughalu, the newly appointed Deputy Managing Director, was appointed to the Board of

the Bank on November 30, 2008 as an Executive Director. She is an astute banking professional

with over 25 years’ experience and expertise in Commercial Banking, Retail Banking, Treasury

Management and Banking operations amongst others. She rose to the position of Acting

Managing Director of Reliance Bank Limited in April 2005, prior to its merger with Skye Bank Plc

in 2006.


Prior to this appointment, Mrs. Amaka Onwughalu was overseeing the Treasury Group, the

International Funding Group and the South East, Edo and Delta (SEED) Directorate, as well as the

Lagos Markets.

Mrs. Onwughalu holds a Bachelor’s degree in Economics and a Master’s Degree in Corporate

Governance. She is also an alumnus of INSEAD, Fontainebleau in France and IMD Business School,

Lausanne, Switzerland. She has attended many local and foreign courses and seminars and is a

member of several professional bodies including the Chartered Institute of Bankers of Nigeria

(CIBN), Nigeria Institute of Management (NIM) and Institute of Directors (IoD).

JOSEPHINE IGBINOSUN



CAPITAL HOTELS PLC

April 22, 2014


Capital Hotels Plc has notified The Exchange that its Board of Directors is scheduled to meet on

Monday, 28th April 2014 at 3.00 p.m. at Sheraton Hotel Abuja to deliberate on several matters

among which are the consideration and approval of the draft 2013 Audited Accounts as well as

the recommendation of Dividend.

JOSEPHINE IGBINOSUN



AFROMEDIA PLC

April 23, 2014

PRESS RELEASE: - Afromedia Plc Repositions Its Board For Improved Performance

Afromedia Plc has notified The NSE that the company has appointed four (4) new Non-Executive Directors

to its Board. The four new non-executive Directors comprises of visionary Nigerians from various walks of

life who have enviable track records of achievements and professionalism. The company, as a forward-

looking company, has repositioned its Board of Directors at this time as part of its strategies for a quantum

leap in its corporate performance, and in full preparation for upturning setbacks it was faced with since

2011. It need be recalled that the businesses of Afromedia Plc witnessed significant adversity in its

operating environment in the past few years.

In announcing the recent reconstitution of the board, according to Afromedia Plc, the Group Managing

Director of Afromedia Plc, Akin Ire Olopade reported that the company’s new visionary and dynamic Board

of Directors is based on the need for the company to reinvigorate its Board for enhanced corporate

performance. The four new Board members have been strategically selected and appointed to fill in the

vacancies created by the former Non –Executive board members, who for unavoidable and urgent

personal interest left the Board recently in pursuance of their other private endeavours. The new

members of the Board are as follows:

Mr. Idowu O. Iluyomade. He is a distinguished lawyer and an entrepreneur, bringing his wealth of

experience in corporate governance and entrepreneurship to bear on the strategic direction of Afromedia.

He is the new Chairman of the Board; a position formerly occupied by Dr. Onaolapo Soleye who resigned

late last year to pursue his other interests.

Engr. Patrick Osita Nwabunie, a longtime member of the company and its retired Deputy Group Managing

Director, as non-executive director, He is now the Vice Chairman of the Board in the recently repositioned

Board,

Ernest C. Ebi MFR, FCIB, a distinguished banker and former Deputy Governor of the Central Bank of

Nigeria is among the new non-executive directors of Afromedia PLC.

Ibrahim Isiyaku (SAN), a distinguished legal luminary has also been appointed as a non-executive director

of Afromedia PLC.


Victor Ogiemwonyi, a seasoned investment banker, stock-broker and entrepreneur has also come on the

Board of Directors of Afromedia PLC in a non-executive capacity.

These non-executive board members working collaboratively with Mr Akinlola Irewunmi Olopade, the

Group Managing Director of the Company and Mr S.O.S. Nwachukwu, the Group Finance Director on the

board, are collectively committed to the company’s journey to becoming the most successful group of

companies in media industry in Africa.

Apart from the Board repositioning, Afromedia PLC has also fine-tuned its corporate strategy to launch a

new corporate structure, which its Board and Management strongly believe will more accurately reflect

the company’s vision to harness abundant opportunities in its niche markets in the media industry. The

essence of the strategy is to provide a more robust corporate performance structure for achieving and

sustaining satisfactory growth in returns to all its stakeholders.

JOSEPHINE IGBINOSUN



STANBIC IBTC HOLDINGS PLC

April 24, 2014

Changes in Directorship of the Stanbic IBTC Holdings Plc

Stanbic IBTC Holdings Plc has notified The Nigerian Stock Exchange of the resignation of Mr. Chris

Newson from the Board of the Company. The Company also announced the appointment of Mr.

Zweli Manyathi as a Non-Executive Director, both effective 16th April 2014.

Zweli Manyathi holds a Bachelor of Commerce (Financial Management) from the University of

South Africa. He also holds a Professional Development Programme certificate from City

University of New York as well as Senior Executive Programme, Wits and Harvard Business

Schools.

Zweli commenced his working career at the First National Bank of South Africa where he was

from 1984 to 2009. He held different positions and performed various roles during this period

which include:

CE: Service & Sales Strategy; Director, Delivery Channels Strategies; CE, First Express (mass

market banking); General Manager’s Assistant, Group Credit; Senior Manager, Business

Development; Manager Credit; Manager Corporate Accounts; Chief Executive Officer,

Metropolitan Branch Delivery; Chief Executive, Branch Delivery and Chief Executive, Corporate

Banking.

He was at Standard Bank of South Africa Limited from April 2009 to December 2012 where he

held the positions of Head, Corporate Banking Coverage and Head, Business Banking South Africa

at different times. From February 2012 to July 2012 he worked with Barclays Africa Limited as

Head, Business Banking – Africa.

Mr. Zweli is currently the CEO, Personal & Business Banking Rest of Africa at Standard Bank of

South Africa Limited. A position he has held since August 2013.

Mr. Zweli Manyathi has experiences at Goldman Sachs, New York, USA and is a member of 21st

Century Trust, a UK based organisation that focuses on the training, development and creating

networks for young people from across the world.

JOSEPHINE IGBINOSUN




INVESTMENTS & ALLIED ASSURANCE PLC

April 24, 2014

Notice of Cancellation of Extra Ordinary Genera Meeting

Investments & Allied Assurance Plc has notified The Nigerian Stock Exchange that the company’s

proposed Extraordinary General Meeting (EGM) earlier scheduled to hold on Friday, April 25,

2014 at the Lagos Airport Hotel, Awolowo Way, Ikeja by 11.00 a.m. has been cancelled.

The Company informed that the cancellation is as a result of the interim order granted by

Honourable Justice Rita Ofili-Ajumogobia of the Federal High Court, Lagos restraining the

Company from holding the EGM pending the hearing and determination of a substantive

application pending before the Court.

Investments & Allied Assurance Plc will communicate a new date for the rescheduled meeting in

due course.

JOSEPHINE IGBINOSUN



UNITY BANK PLC

April 25, 2014

Appointment of Executive Director – Enterprise Risk Management

Unity Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Dahiru Chadi

as Executive Director, Enterprise Risk Management of the Bank.

Born on January 2, 1962, Mr. Dahiru Chadi had his early education in Jama’are and Misau in

Bauchi State. He obtained a Bachelor of Science Degree in Textile Science and Technology from

the Ahmadu Bello University, Zaria in 1985 and a Master of Business Administration (MBA) in

Banking and Finance – 1998.

Mr. Chadi had his National Youth Service programme at Prospect Textile Mills Ltd, Ilorin between

August 1985 and July 1986. He was retained at the company and was made Assistant Production

Supervisor, a position he held between August 1986 and August 1988. He joined the Bank of

Industry (formerly Nigerian Industrial Development Bank Limited – NIDB) as Industrial Engineer I

(Sept 1989 – Feb 1992) and Industrial Engineer II Sept 1988 to August 1989.

He joined Afribank International Ltd (Merchant Bankers) as Assistant Manager (Credit

Department) - Feb 1992 to June 1993, Deputy Manager (Credit Department) July 1993 – Dec

1995, and Manager & Head of Credit Department (Jan 1986 – Nov 1996).

Mr. Chadi teamed up with United Bank for Africa Plc as Senior Manager (Corporate Banking

Sector) Nov 1996 – Aug 1997, Senior Manager (Loan Recovery) Aug. 1997 – Sept 1998, Senior

Manager (Risk Management) Sep. 1998 – Feb 2000 and Principal Manager (Risk Management)

March 2000 – Sep 2003.

In September 2003 he joined FBN (Merchant Bankers) Ltd as Assistant General Manager & Head,

Enterprise Risk Management, a position he held till December 2005. From January 2006 to August

2009, he was Assistant General Manager & Head, Credit Analysis and Processing (CAP), First Bank

of Nigeria Plc and became a DGM from April 1, 2009. From April 2009 to date he has been the

Deputy General Manager & Head, Specialised Lending.

Mr. Chadi is widely travelled and has attended many courses and training programmes both

within and outside the country.

JOSEPHINE IGBINOSUN



UNITY BANK PLC

April 25, 2014

Appointment of Executive Director – Enterprise Risk Management

Unity Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Dahiru Chadi

as Executive Director, Enterprise Risk Management of the Bank.

Born on January 2, 1962, Mr. Dahiru Chadi had his early education in Jama’are and Misau in

Bauchi State. He obtained a Bachelor of Science Degree in Textile Science and Technology from

the Ahmadu Bello University, Zaria in 1985 and a Master of Business Administration (MBA) in

Banking and Finance – 1998.

Mr. Chadi had his National Youth Service programme at Prospect Textile Mills Ltd, Ilorin between

August 1985 and July 1986. He was retained at the company and was made Assistant Production

Supervisor, a position he held between August 1986 and August 1988. He joined the Bank of

Industry (formerly Nigerian Industrial Development Bank Limited – NIDB) as Industrial Engineer I

(Sept 1989 – Feb 1992) and Industrial Engineer II Sept 1988 to August 1989.

He joined Afribank International Ltd (Merchant Bankers) as Assistant Manager (Credit

Department) - Feb 1992 to June 1993, Deputy Manager (Credit Department) July 1993 – Dec

1995, and Manager & Head of Credit Department (Jan 1986 – Nov 1996).

Mr. Chadi teamed up with United Bank for Africa Plc as Senior Manager (Corporate Banking

Sector) Nov 1996 – Aug 1997, Senior Manager (Loan Recovery) Aug. 1997 – Sept 1998, Senior

Manager (Risk Management) Sep. 1998 – Feb 2000 and Principal Manager (Risk Management)

March 2000 – Sep 2003.

In September 2003 he joined FBN (Merchant Bankers) Ltd as Assistant General Manager & Head,

Enterprise Risk Management, a position he held till December 2005. From January 2006 to August

2009, he was Assistant General Manager & Head, Credit Analysis and Processing (CAP), First Bank

of Nigeria Plc and became a DGM from April 1, 2009. From April 2009 to date he has been the

Deputy General Manager & Head, Specialised Lending.

Mr. Chadi is widely travelled and has attended many courses and training programmes both

within and outside the country.


JOSEPHINE IGBINOSUN


UNITY BANK PLC

April 25, 2014

Appointment of Chairman and Vice Chairman of the Board of Unity Bank Plc

Unity Bank Plc has notified The Nigerian Stock Exchange that the Central Bank of Nigeria has

confirmed the bank’s appointments of Alhaji Lamis Shehu Dikko and Mr. Thomas Etuh as

Chairman and Vice-Chairman of the Board of Unity Bank Plc respectively.

Lamis Shehu Dikko was born in Katsina on 31st December 1957 and obtained a B.Sc. in Economics

from Ahmadu Bello University, Zaria in 1980. He is also a PMD certificate holder from Harvard

Business School in year 2000.

Alhaji Lamis Dikko started his working career with Kaduna State Radio as Producer, News &

Current Affairs where worked from November 1980 – September 1981. From October 1984 –

June 1985 he was the Sub-Editor, Nigerian Standard Newspaper, Jos and between July 1985 and

June 1986 he was Assistant Lecturer, College of Advanced Studies, Zaria. For twelve years, from

June 1986 to May 1998, Alhaji Lamis worked at different positions and branches at Habib Nigeria

Bank Limited.

He joined Intercity Bank Plc in June 1998 where he worked for seven years up till December 2005

and rose to the position of Managing Director/CEO (July 2001 to December 2005). From

December 2005 – December 2010 he was an Executive Director at Unity Bank Plc in charge of Risk

Management & Controls (June 2006 – March 2007); Commercial Banking (April 2007 – February

2008) and ED, Central Director, North Central Zone and FCT ( March 2008 – December 2010).

He has served on the board of several companies and organisations and is presently the

Chairman, Advisory Board, Center for Infrastructure, Policy, Regulation and Advancement, Lagos

Business School. He is also a Director of Enterprise Bank Ltd, a position he has been advised to

quit by the Central Bank of Nigeria before taken up this position at Unity Bank Plc.

JOSEPHINE IGBINOSUN


Market Bulletin LCU/25/04/013 (continued)

UNITY BANK PLC

April 25, 2014

Appointment of Chairman and Vice Chairman of the Board of Unity Bank Plc

Thomas Akoh Etuh – Vice Chairman

Born on 21st December 1965, Mr. Thomas Akoh Etuh obtained a Diploma in Banking in 1988 from

Ahmadu Bello University, Zaria and an Advanced Diploma in Public Admin from University of Jos

in 1991. He also has a Post Graduate Diploma in Management from Abubakar Tafawa Balewa

University, Bauchi – 1998; Chief Executive Programme, Lagos Business School 2008; Advanced

Management Programme, University of Navarra, Barcelona, Spain – 2008 and Leadership

Programme London Business School – 2009.

Thomas was the Managing Director of Fiztom International Limited, Kaduna from 1993 to 2000

and is currently the Managing Director/CEO of Tak Continental Limited (2001 to date).

He is a director in the following companies: Federal Superphosphate Fertilizer Company, Tak Agro

& Chemicals limited, Lagos and Cape Cross Salt (PTY) of Namibia.

He has attended many courses and trainings both within and outside the country.

JOSEPHINE IGBINOSUN



CONOIL PLC

April 28, 2014

Notification of Appointment of Director of Conoil Plc

Conoil Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Sisaudia Sanjeev

as its new Managing Director.

Mr. Sanjeev is a B.Sc holder from the Aligarh Muslim University in 1979. He also holds a PG

Diploma in Business Management from Nagpur University in 1985.

He started his work career with Hindustan Petroleum Corporations Ltd in June 1983 as

Operations Officer and rose to the position of Senior Regional Manager in June 2000 a position he

led till May 2004. From June 2004 to March 2007, Mr. Sanjeev was the Assistant Vice President –

Retail Marketing of the Company and from April 2007 to March 2010 he was the Vice President –

International Business Development.

He joined Reliance International Ltd as Vice President – Marketing (Refinery Business) between

April 2010 and April 2011. He then joined Gulf Petroleum Group of Companies in May 2011 as

Group Chief Executive, a position he currently holds.

Mr. Sisaudia Sanjeev has about 3 decades of rich experience in profit Centre Operations, Team

Management, Product Trading, Marketing, Sales, Key Accounts Management, Risk Management

and Business Development in Domestic & International Markets in Petroleum Business.

JOSEPHINE IGBINOSUN



LAFARGE CEMENT WAPCO NIGERIA PLC

April 30, 2014

Notice of Appointment of a Director

Lafarge Cement Wapco Nigeria Plc has notified The Nigerian Stock Exchange of the appointment

of Mr. Thierry Metro as a Director of the Company.

Born on 30th October 1957 in Strasbourg, France, Mr. Thierry Metro had his French National

Service between 1977 and 1979 at Cooperation in Ouagadougou, Burkina Faso and joined the

Total Group in 1980 as Production engineer – Ekofisk – Stavanger – Norway. From 1983 – 1985 he

was the Senior Process Engineer – Project Alwyn north – Londres – UK and from 1986 – 1988 he

was the Commissioning Manager – Alwyn North Aberdeen, UK.

Mr. Metro teamed up with Lafarge Group as Assistant Plant Manager – Speed – Indiana, USA and

held the position between 1989 and 1990. From 1990 to 1994, he was the Plant Manager, Caen,

France and from 1994 to 1998 he was the Plant Manager, Bethlehem, USA. Mr. Metro was made

the VP, Manufacturing – ESSROC Cement, Bethlehem (Pennsylvania) between 1998 and 1999. He

thereafter became the VP, Manufacturing, Lafarge Eastern Canada, Montreal from 1999 to 2002

and General Manager of the Lafarge International Technical Center, Lafarge CTI from 2002 to

2005. Between 2006 and 2009, Mr Thierry Metro was the General Manager of the Lafarge

America Technical Center, CTA, Montreal and General Manager of Lafarge Brazil S/A (Cement) in

2009.

He was made the Group SVP Fuel Sourcing based in Paris in 2013 and has been the Group SVP

Energy & Strategic Sourcing – 2014

Mr. Thierry Metro speaks French, English and Portuguese languages.

JOSEPHINE IGBINOSUN



ZENITH BANK PLC April 30, 2014


Zenith Bank Plc has notified The Nigerian Stock Exchange that in line with its tradition and

succession strategy of grooming leaders from within, it has appointed Mr. Olusola Oladipo as an

Executive Director of the Bank effective March 31, 2014.

Mr. Oladipo holds an MBA from the University of Lagos and a B.Sc. in Accounting from the

Obafemi Awolowo University. He is a fellow of Institute of Chartered Accountants of Nigeria

(FCA), an Associate of Chartered Institute of Stockbrokers (ACIS) and Chartered Institute of

Taxation (ACIT) and has attended several International courses including courses in London

Business School, UK and Columbia University, New York.

He has over two decades of experience in the banking Industry of which about nineteen (19)

years has been spent at Zenith Bank Plc and has been a member of the senior management team

of the Bank since June 2003.

Prior to this appointment, he was the General Manager and Group Zonal Head of the Bank.

JOSEPHINE IGBINOSUN



JULIUS BERGER NIGERIA PLC

May 2, 2014

Bonus Issue

Julius Berger Nigeria Plc has notified The Nigerian Stock Exchange that in addition to the

declaration of a dividend of N2.70 for the company’s 2013 financial year, the Board of Directors

of the Company has also decided to issue a Bonus of 1 ordinary share for every 10 ordinary

shares of 5o kobo each held by each shareholder.

The Bonus shares will rank parri passu in all respects with the existing ordinary shares of the

Company except that such shares shall not qualify for dividend recommended by the Directors in

respect of the year ended December 31, 2013.

As in the case of the dividend, shareholders whose names appear in the register of members as

at the close of business on May 30, 2014 will benefit from the bonus issue.

JOSEPHINE IGBINOSUN



OANDO PLC May 5, 2014

Oando Energy Resources Extends Completion Date for Acquisition of Nigerian Upstream Oil and

Gas Business of Conocophillips

Oando Plc has notified The Nigerian Stock Exchange that the outside date for completion of the

proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips has been

extended to June 30, 2014.

Pursuant to an amendment agreement executed on April 30, 2014, Oando Energy Resources and

ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips

Acquisition from April 30, 2014 to June 30, 2014 to enable the companies to satisfy all closing

conditions including the anticipated consent of the Honourable Minister of Petroleum Resources

in Nigeria. OER has agreed to increasing its deposit by $25 million on May 30, 2014, if the consent

of the Honourable Minister of Petroleum Resources is not received on or before May 23, 2014.

JOSEPHINE IGBINOSUN



TRANSNATIONAL CORPORATION OF NIGERIA PLC May 5, 2014

Transcorp Plc Signs Production Sharing Contract with NNPC

Transnational Corporation of Nigeria Plc (Transcorp), has notified The Nigerian Stock Exchange

that it has signed a Production Sharing Contract (PSC) with the Nigerian National Petroleum

Corporation (NNPC) for the development of its oil block OPL 281. Transcorp won the block in the

2007 bid round and paid signature bonus of USD30m to the Federal Government.

With the signing of the PSC, Transcorp will now proceed with its drilling plans for this prolific

block with over 100mm barrels of proven P1 and 2P reserves of oil and 4tcf of gas reserves. OPL

281 will be the centrepiece of Transcorp’s energy business and will provide the gas feed stock for

its planned energy city in Delta State which will comprise its 1000MW capacity Transcorp Ughelli

Power Plant, and proposed fertiliser and petrochemical plants.

Transcorp is partnering with Energy Equity Resources – a Nigerian oil and gas developer – and

SacOil – an independent African oil and gas company based in South Africa – in the ownership

and development of OPL 281.

Transnational Corporation of Nigeria Plc (Transcorp) currently holds strategic portfolio

investments in the hospitality, agribusiness and energy sectors. Its businesses include Transcorp

Hilton Hotel, Abuja; Transcorp Metropolitan Hotel, Calabar; Ughelli Power Plc, Teragro

Commodities Limited, operator of Teragro Benfruit plant - Nigeria’s first-of-its-kind juice

concentrate plant; and Transcorp Energy Limited.

JOSEPHINE IGBINOSUN



UNION BANK OF NIGERIA PLC May 7, 2014

Union Bank of Nigeria Plc – Divestment from Non-Banking Subsidiaries

Union Bank of Nigeria Plc has notified The Nigerian Stock Exchange that the Bank has appointed

financial advisers for the purpose of obtaining guidance and direction on the best option for

complying with the directive of the Central Bank of Nigeria (CBN) regulation for all banks to divest

from their non-banking subsidiaries and focus on their core areas of expertise.

The Board of Union Bank of Nigeria Plc has resolved that the Bank should divest its shares in its

subsidiaries, with the exception of Union Pension Custodian Limited, which the Board resolved

should be wound up and Union Bank UK Plc, which will be retained as the only subsidiary of the

Bank.

The Bank has already held discussions with the Central Bank of Nigeria and interested investors

had carried out in-depth due diligence exercises and rigorous bidding processes had been

conducted with a view to selecting the preferred investor for each subsidiary.

Preliminary steps are being taken to wound up Union Pension Custodian Limited while preferred

bidders have been selected for Union Homes Savings and Loans Plc, Union Assurance Company

Limited and Union Capital Markets Limited and share purchase agreements have been executed

with a view to making formal applications in respect of the transactions to all regulatory bodies.

Union Bank of Nigeria Plc will undertake the same processes for divestment from Union

Registrars Limited, UBN Property Limited and the rest of the subsidiaries in due course.

JOSEPHINE IGBINOSUN



CHAMPION BREWERIES PLC May 7, 2014

Application for Rights Issue

Champion Breweries Plc has today, filed an application for a Rights Issue of 6,300,000,000

ordinary shares of 50 kobo each at N1.85 per share on the basis of 7 new ordinary shares for

every 1 ordinary share held as at the close of business on Wednesday, 7th May 2014.

JOSEPHINE IGBINOSUN



NIGERIAN BREWERIES PLC

May 12, 2014

Proposed Scheme of Merger between Nigerian Breweries Plc and Consolidated Breweries Plc

Nigerian Breweries Plc (‘’The Company’’) has notified The Nigerian Stock Exchange (‘’The

Exchange’’) that the Board of Directors of the Company and the Board of Directors of

Consolidated Breweries have agreed to explore a combination of the two businesses by way of a

Scheme of Merger. As a result, a pre-Merger application has been filed with the Securities &

Exchange Commission for its approval.

Upon receipt of the approval, both parties will take further steps to consummate the proposed

merger including obtaining the approval of their respective shareholders to the Scheme of

Merger at separate Court-Ordered Meetings. The terms and conditions of the proposed merger

will be contained in the Scheme of Merger document to be prepared and sent to all shareholders.

The two Companies are subsidiaries of Heineken NV. While the parent Company holds

approximately 54.1% of the shares in Nigerian Breweries Plc, it holds 53.8% of the shares in

Consolidated Breweries Plc.

The Company promised to keep The Exchange updated of further developments as they occur.

JOSEPHINE IGBINOSUN



SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC

May 16, 2014

Shift in the Date of Annual General Meeting

Seplat Petroleum Development Company Plc has notified The Nigerian Stock Exchange that the

Company’s Annual General Meeting earlier scheduled to hold on Thursday, 22nd May 2014 has

been postponed. Seplat has informed that the meeting will now hold on Monday, 30th June 2014

at the same venue and time - The Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos at

11.00 a.m.

The Company regrets any inconveniences this postponement may cause to its stakeholders.

JOSEPHINE IGBINOSUN



JAPAUL OIL & MARITIME SERVICES PLC

May 22, 2014

Change of venue of Annual General Meeting

Japaul Oil & Maritime Services Plc has notified The Nigerian Stock Exchange that its Annual

General Meeting earlier scheduled to hold at the Owena Motels Limited, Parliament Road, Akure,

Ondo State will now hold at Jojein Hotel & Resort, Airport Road, Oba-ile, Akure Ondo State.

The date and time for the meeting remain Friday, 27th June 2014 at 10.00 a.m.

JOSEPHINE IGBINOSUN




May 22, 2014


Seplat Petroleum Development Company Plc has notified The Nigerian Stock Exchange of the

appointment of Mr. Damian Dodo SAN (INED) and Madame Nathalie Delapalme (Alternate and

French) as directors of the Company.

Mr. Damian Dodo, SAN

Mr Damian Dodo qualified as a Legal Practitioner in Nigeria in 1986. In 2001 he was appointed a

Senior Advocate of Nigeria. He is an associate member of the Chartered Institute of Arbitrators

London.

As a Legal Practitioner, Mr Dodo has acted for numerous clients including the Federal

Government of Nigeria, major corporations such as; Niger Delta Power Holding Company Limited,

Bureau of Public Enterprises, Nigerian National Petroleum Corporation, Nigerian Communication

Commission, National Pension Commission and the Petroleum Equalization Fund and numerous

other clients.

Mr Dodo SAN served on a number of Commissions including; the NNPC Commission of Inquiry,

National Executive Committee of the Nigerian Bar Association, the Governing Board of the

National Agency for the Prohibition of Traffic in Persons and he currently chairs the National

Lottery Regulatory Commission.

Mr. Dodo SAN was awarded the prestigious National Honour of the Officer of the Order of the

Federal Republic of Nigeria by President Goodluck Jonathan. Recently, Mr Dodo SAN was

awarded Fellowship by the Nigerian Institute for Advanced Legal Studies. Mr Dodo SAN is happily

married with children.

Madame Nathalie Delapalme

Career - June 2010 to Present: Mo Ibrahim Foundation(London) - Executive Director - 2007 - 2010: French Ministry of Economy and Finances -Inspecteur Général des Finances - 2002 - 2007: French Foreign Ministry - Africa Advisor to the Minister - 1997 - 2002: French Senate: Advisor to the Public Finances and General Budget Committee; Public policies, public expenditures, fiscal policies monitoring- Main budgets followed: Defence, Development aid, Foreign Affairs, Research, ITC, Education, Environment


- 1995 - 1997: French Development Ministry: Deputy Head of Minister’s Office - 1987 - 1995: French Senate: Advisor to the Public Finances and General Budget

Accounting Committee - 1984 - 1987: French Senate: Member of the Public policies Research team - 1978 - 1984: Fondation Nationale des Sciences Politiques, Paris - Researcher

Mandates (Board memberships) - CFAO: Supervisory Board, Nominations Committee, CSR Committee (Chair) - Maurel & Prom: Board, Audit Committee MPI: Board, Audit Committee - Fondation Pierre Fabre: Board Fondation Elle: Board Mo Ibrahim Foundation: Board - WEF (World Economic Forum) Global Agenda Council on Fragile States - WEF Expert Panel on Strategic Infrastructure in Africa - Cooperation Commission of UNICEF-France - Executive Committee of Commentaire - IFRI (Institut Francais des Relations Internationales), Degrees - Paris Institut d’Etudes Politiques (1977) - DEA Economie Appliquée (1979) Others - Chevalier de l’Ordre de la Légion d’honneur - Chevalier de l’Ordre du Mérite - African orders: Senegal, Cote d’Ivoire, Gabon, Tchad, Congo-Brazza, Niger - Membre correspondant de l’Académie des Sciences d’Outremer

JOSEPHINE IGBINOSUN



TRIPPLE GEE & COMPANY PLC

May 23, 2014

Appointment of a Director

Tripple Gee & Company Plc has notified has notified The Exchange of the appointment of a new

Managing Director/Chief Executive Officer, Mr Omotola Akinwole Osunkiyesi effective May 2,

2014.

With this appointment, Chief G.G. Giwa steps down as the Company’s helmsman, a position he

occupied for several years, but he retains his seat on the Board of the Company as a Non-

Executive Director.

Mr Omotola Akinwole Osunkiyesi was born on May 5, 1965. He Holds a Higher National

Diploma in Business Administration & Management in 1985 before obtaining his Masters

Business Administration (MBA) in Finance in 1999 with Masters in Applied Finance in view.

Mr. Osunkiyesi started his professional career as a Clerical Officer in the Nigerian Educational

Research Council - May 1980 - Oct 1980. Between June to November 1981, he joined Luncheon

Vouchers Nig. Ltd as Marketing Executive.

As a Corps member, Mr. Osunkiyesi taught at Itolo Girls Secondary School, Eric Moore Road,

Surulere in Lagos - August 1985 to July 1986. Other notable establishments he has worked

include:

Tate Industries Ltd, Eric Moore, Lagos – Stock Accountant (July 1982 - December 1983)

G.Q. Investment Ltd – Marketing Officer (July 1986 - November 1987)

Associated Breweries & Co. Ltd - Field Sales Office to Assistant Regional Manager/Liaison

Executive (North) (Jan 1990 – 1991)

Tropics Finance & Investment Ltd - Marketing Officer to Head of Marketing (1991 - 1992)

Essence Mercantile & Trust Ltd - Head of Operations (1993), General Manager (1996), and

Executive Director/Chief Operating Officer (1999)

Costain (West Africa) Plc - Executive Director Finance (Jan. 2001 - February 2004)

DN Meyer Plc – Acting Managing Director/CEO (April 2010 - August 2011)

He belongs to many professional bodies among which are member, Institute of Directors (UK),

fellow, Institute of Directors (Nigeria), member, Paints Manufacturer Association of Nigeria, and

member, Nigerian Marketing Association. His business and Investments drive cut across: Fiyinfolu


Micro-Finance Bank Ltd (Executive vice-Chairman) with 75% equity holding, Firstline Financial

Consultancy Ltd (Exec. Vice-Chairman) - 35% Equity Holding, Hammersmith Construction &

Development Ltd (Exec Vice-Chairman) - 65% equity holdings, among other businesses.

He was the Managing Partner/CEO of TAO & Associates, prior to this appointment.

JOSEPHINE IGBINOSUN



COMPUTER WAREHOUSE GROUP PLC

May 23, 2014

Appointment of New Director

The Company has notified The Exchange of the appointment of a new Director; Mr. Emmanuel Itoya

Ijewere.

Mr. Emmanuel Itoya Ijewere, FCA, FCIT: A Chartered accountant and a Tax consultant was born on

October 30, 1946.

He started his professional career with Coopers & Lybrand (Chartered Accountants) London 1965 - 1972

before partnering with D.O Dafinone & Co. (Chartered Accountants) – 1972 - 1979. He later became the

Group CEO, Messrs Ijewere & Co (Chartered Accountants).

Mr. Emmanuel has headed the Directorship of several organisations among which are: Best Food Global

(Nig.) Ltd - Chairman, Apel Capital & Trust Ltd-Chairman, Drum Resources (Nig.) Ltd - Chairman, Anchoria

Investment & Securities Ltd - Director, Pinehill Leasing Co. Ltd - Director, Rosaab International (Ghana) Ltd

-Director among other organisations.

His professional membership ranges from: the Past President of the Institute of Chartered Accountants of

Nigeria (ICAN), Past President - Accounting Bodies of West Africa (ABWA), Past President - Institute of

Directors (IoD), Past National President Nigerian Red Cross Society (NRCS), Chairman - West African Sub-

Region (3) of International Federation of the Red Cross and Red Crescent Societies and Pioneer Vice

President, Chartered Institute of Taxation (CITN).

Mr Ijewere was once the Chairman, Modified Value Added Tax Committee; the Committee that midwifed

VAT in Nigeria, Chairman, Agriculture and Food Security Commission (NESG), Chairman, Community of

Agricultural Stakeholders of Nigeria (CASON), Chairman, Extractive Industries - Sub-Committee of the

National Council on Privatisation among other many national assignments.

JOSEPHINE IGBINOSUN



CAVERTON OFFSHORE SUPPORT GROUP PLC

May 26, 2014

Caverton Wins Contract Extension from TOTAL

Caverton Offshore Support Group Plc has notified The Nigerian Stock that TOTAL EXPLORATION &

PRODUCTION NIGERIA LIMITED has exercised contract extension options with the Company for a

two year period.

Caverton won a 3 year contract with Total in 2011 for the operation of 4 helicopters into

TEPENG’s offshore fields. The extension will see Caverton servicing the company till 2016.

Caverton Takes On New Helicopter AW139

In another development, Caverton Offshore Support Group has also notified The Exchange of the

acquisition of a brand new AW139 helicopter, the 7th in its fleet. As part of the company’s earlier

stated plans to embark on fleet expansion, the new aircraft adds to the growing fleet of

Caverton’s Agusta Westland helicopters thus making it the largest fleet in sub-Saharan Africa.

The new helicopter is dedicated to the Shell Petroleum Development Company (SHELL) contract

which the company won in 2010 through a competitive bidding process.

JOSEPHINE IGBINOSUN



FBH HOLDINGS PLC

May 27, 2014

Acquisition of ICB, Senegal

FBN Holdings Plc has notified The Nigerian Stock Exchange that its subsidiary, First Bank of

Nigeria Limited, has now completed the acquisition of ICB Senegal, which represents the last

jurisdiction of the West African assets of ICB Financial Group Holdings. The completion meeting

to conclude the transaction was held today, May 27, 2014.

By this acquisition, First Bank has now completed its acquisition of ICB West Africa comprising

operations in Gambia, Ghana, Guinea, Sierra Leone and Senegal.

JOSEPHINE IGBINOSUN



FBH HOLDINGS PLC

May 27, 2014

Acquisition of ICB, Senegal

FBN Holdings Plc has notified The Nigerian Stock Exchange that its subsidiary, First Bank of

Nigeria Limited, has now completed the acquisition of ICB Senegal, which represents the last

jurisdiction of the West African assets of ICB Financial Group Holdings. The completion meeting

to conclude the transaction was held today, May 27, 2014.

By this acquisition, First Bank has now completed its acquisition of ICB West Africa comprising

operations in Gambia, Ghana, Guinea, Sierra Leone and Senegal.

JOSEPHINE IGBINOSUN



OASIS INSURANCE PLC

June 4, 2014

Take-Over Bid Of I,872,911,465 Ordinary Shares Of 50k Each in Oasis Insurance Plc By FBN Life

Ltd

Qualification date: June 20th 2014

Offer Opens on: June 23rd 2014

Offer Closes on: July 14th 2014

JOSEPHINE IGBINOSUN




June 4, 2014

Ecobank acquires Banco ProCredit and commences trading in Mozambique

Ecobank Transnational Incorporated (‘Ecobank’ or ‘the Group’) and ProCredit Holding (‘PCH’)

announce that they have concluded negotiations for the acquisition of the 96% stake in Banco

ProCredit Mozambique (“the Bank”) previously held by ProCredit Holding and the DOEN

Foundation. The transaction has received the approval of the regulatory authorities in

Mozambique and the Bank has started trading as Ecobank Mozambique, effective from May 20th

2014.

Speaking on behalf of PCH, Helen Alexander confirmed that the negotiations were held in a frank

and transparent manner and that the transaction has been concluded to the satisfaction of both

parties. She asserted: “We are pleased to have concluded this transaction and are confident that

we are leaving the bank in the hands of a very capable partner. Ecobank is well positioned to

implement a growth strategy that will offer excellent prospects for our clients, our staff and for

the Mozambique market as a whole.”

Evelyne Tall, Ecobank’s Group Chief Operating Officer, re-affirmed that Ecobank would build

rapidly on the excellent foundation laid by ProCredit Holding to transform the Bank into a major

player in the local financial services market. “Our entry into Mozambique brings the number of

African countries in which Ecobank has a presence to 36,” she commented. “Having completed

the acquisition, we are now beginning the integration of systems, people and clients into the

Ecobank network. This will ensure that ProCredit Mozambique’s customers have access to the

entire suite of products that Ecobank has to offer.”

Albert Essien, Ecobank’s Group CEO, reiterated the importance of Mozambique to Ecobank’s

strategy in the Southern African Development Community (‘SADC’). “Mozambique holds a key

strategic position within the SADC, providing port access for all the landlocked member

countries,” he observed. “Our overall objective is to advance financial inclusion for the people of

Mozambique, providing them with accessible, convenient and reliable banking services, as well as

leveraging regional trade corridors to facilitate cross-border transactions.”

JOSEPHINE IGBINOSUN




VONO PRODUCTS PLC

June 4, 2014

Appointment of Non-Executive Director

Vono Products Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Charles

Koko Orikaye, FCA, FCCA as a Non-Executive Director of the Company.

Mr. Orikaye is a Fellow of the institute of Chartered Accountants of Nigeria (FCA), Fellow of the

Association of Chartered Certified Accountants (FCCA) UK, Associate Member and Chartered

Institute of Stockbrokers (ACS). He holds a Master’s Degree in Banking and Finance (MBF) and

Master of Business Administration (MBA). Amongst several senior Executive positions in the

Banking Industry, Mr. Orikaye held the position of Executive Director (Corporate banking) of FBN

(Merchant Bankers) Limited from where he retired into private business in 2003.

JOSEPHINE IGBINOSUN




June 5, 2014

Appointment of Group Chief Executive Officer for Dangote Flour Mills Plc

Dangote Flour Mills Plc has notified The Nigerian Stock Exchange of the appointment of Mr.

Thabo Mabe as the substantive Group Chief Executive Officer of the Company with effect from

2nd June 2014. He replaces Mr. Noel Doyle who was in acting capacity.

Profile of Mr. Mabe will be made available as soon as it is received from the Company.

JOSEPHINE IGBINOSUN




June 6, 2014

Dangote Flour Mills Plc Divests 99% Equity Stake in Dangote Agrosacks Limited to Dangote

Industries Limited

The Board of Dangote Flour Mills Plc (“DFM”) has notified The Nigerian Stock Exchange that

following a strategic review of its portfolio of businesses, aimed at aligning its core business areas

with that of its core shareholder, Tiger Brand Limited, and thereby focusing on its food related

businesses going forward, DFM has executed a Share Sale and Purchase Agreement (‘’SSPA’’) with

Dangote Industries Limited (‘’DIL’’) in respect of the sale of the Company’s 84,150,000 ordinary

shares of N1.00 each in Dangote Agrosacks Limited (‘’DASL’’) representing 99.0% of the total

issued ordinary share capital of DASL.

The execution of the SSPA followed the receipt of approvals from the Board and Shareholders of

DFM, as well as requisite regulatory approval from the Securities & Exchange Commission.

According to the Company, the divestment is in furtherance of DFM’s group-wide business

optimisation initiative, aimed at ensuring that the Company is efficiently structured to maximise

shareholder value and sustain its market leadership position in the Nigerian Food and Beverages

Sector.

About Dangote Agrosacks Limited:

Dangote Agrosacks Limited (‘’DASL’’) was incorporated as private limited liability company on 25th

August, 1998 and commenced business in May, 1999. DASL is involved in the manufacture and

sale of polypropylene sacks, majorly for the companies within the Dangote Group, as well as

other users.

DASL’s products include cement bags, flour bags, sugar bags, salt bags and market bags

production lines and 6 regular lines across 3 plant locations in Nigeria (Oba Akran and Israel

Adebanjo in Ikeja as well as Obajana in Kogi State)

JOSEPHINE IGBINOSUN



WAPIC INSURANCE PLC

June 6, 2014

Appointment of Director

Wapic Insurance Plc has notified The Nigerian Stock Exchange that the Board of Directors of the

Company at its meeting held on April 30, 2014 approved the appointment of Mrs. Ifeyinwa Osime

as an Independent Non-Executive Director on the Board of the Company.

Mrs. Ifeyinwa Osime holds a Law Degree (L.L.B), and Masters (LL.M) in Commercial & Corporate

Law from the University of Benin and London School of Economics, University of London

respectively. She is also a Barrister at Law (BL) of the Supreme Court of Nigeria. She has over 24

years professional experience in law and Insurance and was the Company Secretary of African

Development Insurance Company Limited from 1989 to 1997 with oversight over claims

settlement.

She is an alumnus of the Harvard Business School and is currently a Partner at McPherson Legal

Practitioners.

Her appointment has been communicated to the National Insurance Commission (NAICON) for

approval.

Consequently, below is the present composition of the Board of Directors of Wapic Insurance Plc:

Mr. Aigboje Aig-Imoukhede

Mr. Bode Osunkoya

Mr. Adamu Atta

Mr. Barnabas Olise

Ms. Chizoba Ufoeze

Mrs. Ifeyinwa Osime

Mr. Ashish Desai

Mr. Folusho Alliyu

Mr. Bode Ojeniyi

Mr. Femi Obaleke

JOSEPHINE IGBINOSUN





June 6, 2014

Notice of Annual General Meeting and Extra-Ordinary General Meeting

Ecobank Transnational Incorporated has notified The Nigerian Stock Exchange that its twenty-

sixth Annual General Meeting and an Extra-Ordinary General Meeting have been scheduled to

hold at the Conference Centre, the Ecobank Pan-Africa Centre, 2365 Boulevard du Mono, Lome,

Togo, on Monday, 30th June 2014 at 10.30 a.m. to transact the following business:

A. Annual General Meeting

1. Approval of the Accounts

2. Retirement of Directors

3. Election of Directors

4. Ratification of the Co-option of a Director

5. Re-appointment of the Joint Auditors

B. Extra-Ordinary General Meeting

1. Amendments of the Company’s Articles of Association

JOSEPHINE IGBINOSUN



OANDO PLC

June 10, 2014

OANDO ENERGY RESOURCES EXECUTES EXTENSION OF AVAILABILTY PERIOD OF ITS SENIOR

SECURED LOAN AGREEMENT FOR ACQUISITION OF NIGERIAN ASSETS FROM CONOCOPHILLIPS

Oando Energy Resources Inc. (“OER” or the “Company”), has announced that, further to its press

release dated April 9, 2014, OER has extended the availability period of the US$450 million senior

secured facility agreement arranged by a group of international banks including Standard

Chartered Bank (acting as Facility Agent and Security Agent), BNP Paribas and Standard Bank of

South Africa Limited (the “RBL”) to August 31, 2014.

The RBL is a 5.5 year facility which amortises quarterly with an annual interest rate of LIBOR plus

8.5%. Proceeds from the RBL are intended to be used to fund a portion of the purchase price for

the ConocoPhillips Acquisition.

All terms and conditions under the initial executed binding documentation remain unchanged.

The company also increased its deposit with ConocoPhilips by $25 million on May 30, 2014,

pursuant to the terms of its executed amendment agreement with ConocoPhilips dated April 30,

2014 as disclosed on April 30, 2014. OER has in total paid a $550 million deposit to ConocoPhilips

for this acquisition to date.

Josephine Igbinosun




June 10, 2014

TWO IFC MANAGED FUNDS TO CONVERT LOANS TO ETI SHARES

Ecobank Transnational Incorporated (Ecobank), has notified The Nigerian Stock Exchange that the IFC ALAC Holding Company II and the IFC Capitalization (Equity) Fund, L.P. (two funds managed by the IFC, Member of the World Bank Group) will exercise their option to subscribe for ETI shares with effective date of 1st July 2014.

Their outstanding convertible loans of: US$56,385,000 for the IFC Capitalization (Equity) Fund L.P. and US$18,795,000 for the IFC ALAC Holding Company II

will be converted to 628,742,514 ETI shares and 209,580,838 ETI shares respectively. The convertible debts of ETI will be reduced by US$75,180,000. As a result, ETI will issue 838,323,352 additional shares. The total ETI shares will increase by 4.9% from 17,212,152,208 shares to 18,050,475,560 shares.

ETI states that it is taking all necessary steps to get the shares issued and listed on the three stock exchanges in line with usual requirement.

Josephine Igbinosun




June 10, 2014

CAVERTON SIGNS LANDMARK CONTRACT WITH CAE AEROSPACE; SUB-SAHARAN AFRICA’S

FIRST COMMERCIAL AIRCRAFT SIMULATOR TRAINING CENTRE TO BE LAUNCHED IN 2015.

Caverton Helicopters Limited (a subsidiary of Caverton Offshore Support Group PLC) has notified

The Nigerian Stock Exchange that it will operate the first commercial aviation training centre in

the African region.

The purpose built facility to be located at the Murtala Muhammed International Airport will

feature six (6) simulator bays equipped with a CAE 3000 Series AW 139 full-flight helicopter

simulator (FFS), a CAE 7000XR Series Boeing 737 NG full-flight fixed-wing simulator (FFS) and two

Simfinity Integrated Procedures Trainers (IPTs). The collaborative effort will have CAE providing a

turnkey solution that will include the start-up, maintenance and operation of the centre for a

specified period pending the full transfer of knowledge and skill-sets.

This new development is poised to strengthen Caverton’s position as a leading provider of

aviation logistics and training services in the sub region.

Caverton’s foray into this segment of the industry in collaboration with the number one provider

of advanced simulation training solutions will allow Caverton to diversify its income base, while

improving it’s efficiency and also the efficiency of third party users such as airlines and other

helicopter operators in the region.

The centre will eliminate the challenges experienced by many pilots in the region striving to

obtain their re-currency training and type ratings and it is expected to boost local capacity

development, while curbing capital flight and improving overall safety in the Nigerian and

regional aviation sector.

Josephine Igbinosun



CEMENT COMPANY OF NORTHERN NIGERIA PLC

June 11, 2014

Appointment of a Director in the Board of Cement Company of Northern Nigeria Plc

Cement Company of Northern Nigerian Plc has notified The Exchange that its Board of Directors

at its meeting held on 22nd May, 2014, approved the appointment of Mr. Finn Arnoldsen as a new

Director of the Company. The appointment will be presented to the Shareholders at the next

AGM for ratification.

Mr. Finn Arnoldsen holds a Masters in Mechanical Engineering from NTH, Norway (1973 - 1977)

and started his professional career with SINTEF (Norwegian Institute of Technology), Norway as a

researcher, solid fuel (1977 – 1978) before moving to Norcem A/S, Norway where he spent eight

years rising from Project Engineer to becoming the Project Manager, Norcem Coal & General

Manager Chr. Dahl A/S.

He joined Scancem International ANS in 1984 as the Plant Manager, Ghacem Ltd. Takoradi,

Ghana, spending over two decades covering different countries in Africa ranging from Ghana,

Sierra Leone, Liberia, Tanzania, Nigeria among others until 2004 where he became the Senior

Vice President of the Company responsible for West Africa.

Mr Finn, prior to this second stint with Cement Company of Northern Nigeria Plc (CCNN), was

between 2004 – 2008 the Director Marketing & Sales. He was the Managing Director Edo Cement

Company Ltd, Nigeria, prior to this appointment.

JOSEPHINE IGBINOSUN



SEVEN-UP BOTTLING COMPANY PLC

June 11, 2014

Notice of Board of Directors’ Meeting

Seven-Up Bottling Company Plc has notified The Nigerian Stock Exchange that its Board of

Directors will meet on Monday 23rd June 2014 at 12.00 noon.

Among items slated to be discussed at the meeting are:

1. Approval of the Company’s accounts for the year ended 31st March 2014

2. Recommendation of dividend.

Decisions taken at the meeting will be transmitted to the market thereafter.

JOSEPHINE IGBINOSUN



STANBIC IBTC HOLDINGS PLC

June 12, 2014

Change of Notice of Annual General Meeting

Stanbic IBTC Holdings Plc has notified The Nigerian Stock Exchange that its Annual General

Meeting earlier scheduled to hold on August 7th 2014 has now being shifted to Thursday, August

21st 2014 at the Congress Hall, Transcorp Hilton Hotel, Abuja at 11.00am

The Company regrets any inconveniences this change of date might have caused the

shareholders.

JOSEPHINE IGBINOSUN



DIAMOND BANK PLC

June 13, 2014

Rights Issue of 8,685,145,863 Ordinary Shares of 50 kobo each at N5.80 per share

Diamond Bank Plc has, today, June 13, 2014, submitted an application for a Rights Issue of

8,685,145,863 ordinary shares of 50 kobo each at N5.80 per share.

The qualification date for the Rights Issue exercise is therefore today, June 13, 2014.

This is for your information and noting.

JOSEPHINE IGBINOSUN



RED STAR EXPRESS PLC

June 13, 2014

NOTIFICATION OF BOARD MEETING TO DISCUSS DIVIDEND

Red Star Express Plc has notified The Nigerian Stock Exchange that its Board of Directors will meet

on Thursday, June 26, 2014 at 11.00 a.m. at the Company’s office, No. 12 Adeola Ajayi Crescent,

Mafoluku Lagos.

Issues slated for discussion include review of 2013/2014 financial reports which will include

deliberations on dividend amongst others.

JOSEPHINE IGBINOSUN



OANDO PLC

June 19, 2014

OANDO ENERGY ANNOUNCES NIGERIAN GOVERNMENT APPROVAL OF $1.65 BILLION ACQUISITION OF

CONOCOPHILLIPS NIGERIAN OIL AND GAS BUSINESS

Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company”) (TSX: OER), has announced

the receipt of the consent of the Honourable Minister of Petroleum Resources of Nigeria for the

acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) for a total cash

consideration of $1.65 Billion subject to customary adjustments (the “ConocoPhillips Transaction”).

Further to the receipt of consent of the Honourable Minister of Petroleum Resources, OER and

ConocoPhillips are now positioned to complete the ConocoPhillips Transaction.

The Company believes that this acquisition satisfies its criteria for assets in production, as well as excellent

appraisal and exploration prospects. It states that the coast now stands clear for OER to immediately

complete the acquisition.

OER will now work with ConocoPhillips towards completing the acquisition by the long stop date of June

30, 2014 or shortly thereafter.

JOSEPHINE IGBINOSUN



GLAXOSMITHKLINE Consumer Nigeria PLC

June 19, 2014

Appointment of Managing Director

GlaxoSmithKline Consumer Nigeria Plc has notified The Nigerian Stock Exchange that the

Company’s Board has appointed Mr. Dayanand Thandalam Sriram as the Managing Director of

the Company.

Mr. Dayanand Thandalam Sriram holds a B.Sc. Degree in Physics from Loyola College, Chennai,

India in 1988 before obtaining his Masters Diploma in Packaging Technology from India Institute

of Packaging, Mumbai, India in June 1991. He also has M.B.A. from B.I.M, Trichy India.

Sriram, who has over 18 years of proven leadership experience in Sales, Marketing and General

Management started his professional career with Hindustan Unilever, Chennai India as a

Packaging Development Officer (1991 – 1993).

He joined GSK in 1995 assuming the Sales leadership roles, and occupied several positions and

roles in the Company since then.

He was the Regional Head (West) & Head of CSD, Mumbai, India (2002 - 2004), Regional Head –

South, Chennai, India (2004 – 2006), Category Head – Nutritionals, H.Q. Gurgaon, India (2006 –

2008), National Sales Manager, H.Q. Gurgaon, India (2008 – 2010) and the Sales Development

Director – International, H.Q. Gurgaon, India (2010 – 2011) charged with the responsibilities of

delivering sales development initiatives in GSK’s focus market of Brazil, China, Mexico, Japan and

Egypt among other responsibilities.

He was the General Manager of the Company prior to this appointment.

JOSEPHINE IGBINOSUN



GlaxoSmithKline Consumer Nigeria Plc

June 20, 2014


GlaxoSmithKline Nig. Plc has notified The Nigerian Stock Exchange that at its Board meeting held

on June 11, 2014 passed the following resolutions:

Accepted the resignation and retirement from the Board of the Company of Chief Olusegun

Osunkeye, OFR, OON, Chairman of the Board, with effect from June 12, 2014.

Accepted the resignation from the Board of Engr. Mansur Ahmed and Mr. Madike Seye with

effect June 12, 2014.

Elected one of the non-executive directors, Mr. Edmund Onuzo as the new Chairman of the

Company effective June 12, 2014.

Appointed Mr. Olalekan Asuni and Mr. Samuel Kuye as non-executive directors of the

company effective June 12, 2014.

Mr. Samuel Olawale Kuye: is a Chartered Accountant and a fellow of the Institute of Chartered

Accounts of Nigeria (FCA).

Born in Ijebu-Ode, Ogun State Nigeria, Mr. Kuye started his career in Nestle Nigeria in 1974 and

over the years, has held various positions in Finance and Control as well as management of the

company’s Pension Fund. In 2000, He returned from Switzerland to Nigeria as the Finance &

Control Director and Chief Financial Officer of the Company a position he held until 2004 when he

was transferred to Egypt. Prior to his assignment in Switzerland, he was the Assistant Group

Controller of the Nestle Group for Southern African Region from 1995 to 1996.

From 1998 to 2000, Mr Kuye worked at the Nestle Group’s headquarters in Switzerland as

Controller, responsible for 6 countries in Asia (Philippines, Malaysia, Thailand, Indonesia, Vietnam

and Singapore). In 2004, he moved to Egypt as the Finance & Control Director and Chief Financial

Officer of the Group for North East African Region. He moved to Turkey in 2007.

After 36 years with the Nestle Group, Mr. Kuye retired as Finance & Controller Director and Chief

Financial Officer of the Company for Turkey at the end of October 2010.


He is an independent member of Stanbic IBTC Bank Mutual Funds Investment Committee and has

attended various Senior Management courses at the Nestle Management Training Centre, Vevey

Switzerland and the London Business School, London UK.

He is currently the Chief Executive of a Management and Financial Consultancy Organisation,

SEOOM Limited upon this appointment.

Mr. Olalekan Asuni: holds a Bachelor of Pharmacy degree from Obafemi Awolowo University, Ile-

Ife, Nigeria and a Masters of Business Administration (MBA). He is also an Alumnus of Ashridge

Business School, UK.

He started his professional career with Gastro/OTC in 1991 as a Medical Representative rising to

a Senior Medical Representative between 1996 – 1999, he became the Product Manager and

rose to become the Group Product Manager of the Company (Jan. 2000 – November 2004).

Lekan joined the GlaxoSmithKline Pharmaceutical Anglophone and Central Africa in November

2004 as Marketing and HSA Manager while from April 2006 – June 2008, he became the

Marketing Director charged with the responsibility of formulating and directing the company’s

marketing strategy in Anglophone West and Central Africa among other responsibilities. On July

1, 2008, he became the Managing Director of the Company.

Mr. Asuni recorded numerous achievements in the course of his career among which are leading

the team that produced the Best Strategy at Building Great Brand I & II workshop, led the GSK

Pharmaceutical Nigeria local manufacturing capacity building project among others.

He has attended several general management and function-specific workshops and courses

locally and internationally. He is presently the Managing Director, GlaxoSmithKline

Pharmaceutical West Africa prior to this appointment.

JOSEPHINE IGBINOSUN



OASIS INSURANCE PLC

June 23, 2014

Take-Over Bid Of I,872,911,465 Ordinary Shares Of 50k Each in Oasis Insurance Plc By FBN Life

Ltd

Please recall that on June 4, 2014 a Market Bulletin was communicated to market operators

regarding the qualification date as well as the opening and closing dates of the above Tender

Offer.

Kindly be informed that these dates are no longer feasible as the Company is yet to receive

approval of the Quotations Committee of National Council of The Exchange for the

consummation of the transaction.

A new date will be communicated to the market in due course.

JOSEPHINE IGBINOSUN



Caverton Offshore Support Group Plc

June 23, 2014

Caverton Supports Tertiary Education in Nigeria; Commissions A 520-Seater Lecture Hall

Caverton Offshore Support Group PLC (“CAVERTON”) is pleased to announce the commissioning of a 520-seater lecture hall ‘CAVERTON HALL’ at the Federal University of Technology, Minna, Niger State. The commissioning ceremony which was attended by dignitaries from the State, the University and the Caverton Board of Directors has been lauded as a step in the right direction to assist in improving the quality of tertiary education in the country. Speaking at the occasion, the Group Chairman of Caverton, Aderemi Makanjuola stated that ‘This is in furtherance of our Corporate Social Responsibility ideals, and we are mindful to leave our footprint on the sands of time’. The construction commenced in 2010 and was completed in 2013. The Group Chairman also announced during the commissioning that Caverton plans to deepen the collaboration with the Federal University of Technology, Minna by offering Internship (IT) positions to students of the institution. He further stated that Engineering students from the University who finish at the top of their class graduating with First and Second class upper degrees are encouraged to seek employment with Caverton.

JOSEPHINE IGBINOSUN



FIDELITY BANK PLC

June 23, 2014

Completion of Board Tenure and Appointment of Company Secretary

Fidelity Bank Plc has notified The Nigerian Stock Exchange of the recent corporate developments

on its Board.

1. Completion of Board Tenure: the under listed Non-Executive Directors have retired from the

Board of Directors of the Bank with effect from May 22, 2014 having completed their terms of

office in accordance with the provisions of the Central Bank of Nigeria’s Guidelines on Tenure

of Office of Non-Executive Directors:

a) Dim Elias E. Nwosu

b) Mrs. Bessie N. Ejeckam

c) Chief Nnamdi. Oji

The affected Directors have been notified of the Completion of their tenure and the Board will be

formally updated at the next Board meeting schedule to hold on July 24, 2014.

2. Appointment of Company Secretary: The Board of Directors of the Bank has also approved

the appointment of Mrs. Ezinwa Unigboje as Company Secretary of the Bank, pending the

approval of the Central Bank of Nigeria with effect from May 22, 2014.

JOSEPHINE IGBINOSUN




June 27, 2014

Organizational Changes – Corporate & Investment Bank

Ecobank Transnational Incorporated (‘Ecobank’ or ‘the Group’) has notified The Nigerian Stock Exchange

of changes in the organisation following Mr. Albert Essien’s appointment as Chief Executive Officer (‘CEO’)

of the Group in March of this year.

According to the Company, in line with its Corporate Governance status, Mr. Albert Essien will be

relinquishing his role as Head of the Group’s Corporate and Investment Bank (CIB) business segment.

In a parallel development, it has been decided to restructure Ecobank’s segment, establishing the Group’s

Treasury operations as a standalone business unit. Mr. Aziz Dia, the Bank’s current Group Head of

Treasury will continue to lead the development of the Bank’s Treasury operations, reporting directly to the

Group CEO. This reflects a growing trend amongst other leading banking groups to separate the Treasury

and CIB functions the Bank said.

As a result, the Bank said the CIB segment will now consist of the following business units: Corporate Bank

(‘CB’), Transaction Services Group (‘TSG’), Investment Bank (‘IB’), Securities and Asset Management

(‘SAM’), Research and the International Business, which includes Ecobank’s representative offices in

Beijing, Dubai and London.

Furthermore, Mr. Charles Kie, the former Head of CB, has been appointed Group Executive of the new CIB

segment. With 18 years of commercial banking experience behind him, Mr. Charles has held several

prominent positions in his career, including his most recent role prior to joining Ecobank, as CEO of

Groupe Banque Atlantique, a holding company with banking operations in 8 countries across West and

Central Africa.

In addition to these new responsibilities, Charles will also assume the role of Chief Representative Officer

for Ecobank’s Representative Officer in Johannesburg, South Africa. He will also continue to lead CD until a

successor is appointed

All the above changes will be effective July 1, 2014

JOSEPHINE IGBINOSUN



PHARMA DEKO PLC

June 27, 2014

Appointment of Non – Executive Director

Pharma Deko Plc has notified The Nigerian Stock Exchange that at the 137th meeting of its Board

of Directors held on Wednesday, May 14th 2014, Professor Herbert C.B. Coker of the Faculty of

Pharmacy, University of Lagos was appointed a Non–Executive Director of the Company effective

May 15, 2014.

Professor Herbert C.B. Coker, a Professor of Pharmacy, holds a B.Sc. in Pharmacy from Ahmadu

Bello University Zaria (1976) before obtaining his Ph.D from the University of Strathclyde,

Glasgow (July 1984).

Professor Coker has spent his entire career in the Education sector and is currently the Dean,

Faculty of Pharmacy, University of Lagos. He started his teaching career in 1984 and has held

numerous posts among which are: Ag. Head, Department of Pharmaceutical Chemistry (1987 –

1991), Professor and Head of Pharmaceutical Chemistry (1994 – 1997), College Dean, School of

Pharmacy, College of Medicine, University of Lagos (1997 – 2001), Deputy Provost, College of

Medicine, University of Lagos; 2001 – 2003, Member of Senate, University of Lagos, Member,

Faculty of Consultancy Groups, among others.

He has supervised over two hundred (200) M.Sc. and Ph.D. dissertations and is a member of

many professional bodies; Fellow, West African Postgraduate College of Pharmacists, Member,

Pharmaceutical Society of Nigeria (MPSN), Member, Pharmacists Council of Nigeria (PCN), and

Member, International Society for the Study of Xenobiotics (ISSX) among others.

Professor Coker is currently the Faculty Dean, Faculty of Pharmacy, University of Lagos.

JOSEPHINE IGBINOSUN




June 27, 2014

Appointment of a Non-Executive Director for Guaranty Trust Bank Plc

The Bank has notified The Exchange of the appointment of Mr. Hezekiah Adesola Oyinlola as a Non-

Executive Director of the Bank.

Mr. Oyinlola, a seasoned professional with over thirty (30) years’ work experience in the Oil and Gas

industry, holds B.Sc. first class in Accounting from the University of Ghana in 1979 before obtaining his

MBA from Stanford University, Graduate School of Business, Stanford, California, USA ( 1984). He also

attended the Oxford University Institute for Energy Studies, Oxford Energy Seminar, UK, 2002.

He started his career as an Instructor in Accounting at the University of Ghana, Legon, Ghana and a Project

Finance Trainee in ABB, Vasteras, Sweden in 1979 before joining the Central Bank of Nigeria as a Senior

Supervisor, Lagos Nigeria (1980 – 1982). Between 1984 and 1987, Mr Oyinlola was the Internal

Consultant/Auditor based in Mountain View California and Sugarland, Texas while from 1987 to 1990 he

was the Controller – Manufacturing, Research and Engineering, Tulsa, UK.

Other notable places he has worked include: Worldwide Controller, International Drilling Fluids Ltd,

London, UK (1990 -1994) as the company’s Corporate Assistant Treasurer in Asia, Middle & Far East,

Scandinavia, Paris, France (1994 – 1996).

Mr. Oyinlola joined Schlumberger in 1996 and has worked in several positions till date:- Group Tax

Manager (Geco Seismic, a subsidiary of Schlumberger), Managing Director, Oilfield Services, Malaysia;

Area Personnel Director – Europe, Africa, Caspian and Russia, Group Managing Director, Schlumberger

Companies in Nigeria and from 2006 to 2011 he became the Vice President & Group Treasurer of the

Company in Houston, Texas, USA.

Other interests and appointments he has held include are: Executive Committee member, African

Diaspora Health Initiative, (by the African Union, Washington DC -2012), Board of Trustees, Nigerian

American Multicultural Centre, 2010 - Date, Board of Trustees Member, Vice Chairman, President and

Treasurer, Schlumberger Foundation - 2006 to Date among others.

Mr. Hezekiah was the Chairman Africa, Schlumberger Group, based in Houston & Paris prior to this

appointment.

JOSEPHINE IGBINOSUN




July 2, 2014

PRESS RELEASE

Ecobank - Result of AGM

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange that at the

Annual General Meeting (“AGM”) of the Company held at the Group headquarters in Lomé on

Monday, June 30, 2014 all the ordinary resolutions were duly passed. This included the

appointment of Mr. Emmanuel Ikazoboh as the Group’s new Chairman. An accountant by

training, Mr. Emmanuel Ikazoboh has over 35 years’ experience of international business

management and corporate advisory roles in both the private and public sectors, having spent

much of his career with Deloitte in West and Central Africa.

ETI states that in accordance with the Governance Action Plan approved at Ecobank’s

Extraordinary General Meeting in March of this year, there has been a significant reorganization

of the Group’s Board of Directors (“the Board”). Messrs. Sena Agbayissah, Kwasi A. Boatin, Assad

Jabre and Sipho Mseleku have retired as Directors. The new Board comprises three executive

directors (Group CEO, Mr. Albert Essien, Deputy Group CEO and Group COO, Mrs. Evelyne Tall-

Daouda, and Mrs. Laurence do Rego, Executive Director, Finance) and nine Non-Executive

Directors. In addition to the Group Chairman, the Non-Executive Directors include: Mr. André

Siaka, representing shareholders in CEMAC, Dr. Adesegun Akinjuwon Akin-Olugbade,

representing Nigeria and Anglophone minority shareholders, Mr. André Boboé Bayala,

representing UEMOA and Francophone minority shareholders, Mr. Tei Mante, representing

WAMZ, Mr. Kadita Tshibaka, representing the IFC, Mr. Hewett Adegboyega Benson, representing

AMCON, Mr. Bashir Mamman Ifo, representing EBID, and Dr. Daniel Matjila, representing the

Public Investment Corporation (“PIC”).

JOSEPHINE IGBINOSUN


OASIS INSURANCE PLC

June 8, 2014

Take-Over Bid Of I,872,911,465 Ordinary Shares Of 50k Each in Oasis Insurance Plc By FBN Life Ltd

Qualification date: July 3, 2014

Acceptance Opens: July 7, 2014

Acceptance Closes: July 28, 2014




NPF MICRO FINANCE BANK PLC

July 7, 2014

Appointment of New Directors

NPF Microfinance Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr.

Akinwumi Mohammed Lawal as the substantive Managing Director of the Bank. It also

announced the appointment of Mr. Jude Chukwueloka Ohanehi as Executive Director of the Bank

with effect from the date of its last Annual General Meeting held on June 26, 2014.

Mr. Akinwumi Mohammed Lawal: A Fellow Chartered Institute of Bankers (FCIB) holds a Higher

National Diploma (HND) from the Yaba College of Technology, Lagos (1991 – 1994) before

obtaining his Master in Business Administration (MBA) in 2003 from the Federal University of

Technology, Owerri.

Mr. Lawal started his professional career with Fidelity Bond Insurance Brokers as a Principal Clerk

(1986) before joining the Federal Savings Bank where he was between 1987 and 1991.

Between 1991 and 1993, he worked with FSB International Bank Ltd as a Treasury Unit Officer

while from 1993 – 1994, he was at United Commercial Bank Ltd.

He joined the NPF Microfinance Bank Plc (formerly NPF Community Bank Plc) in 1995 as Head of

Accounts and has occupied several positions in the bank since then ranging from; Branch

Manager (Abuja) 1999 – 2005, Senior Manager (Head of Treasury) 2005 - 2007, AGM (Financial

Control) 2007 - 2009, AGM (Operations) 2009 - 2010 and DGM (Operations/Head, Risk

Management Enterprise) 2011 – September 2013.

He is an Associate, Certified Pension Institute of Nigeria and was since September 2013, the

Acting Managing Director of the Bank prior to this substantive appointment.

Mr. Jude Chukwueloka Ohanehi: is a member of the Chartered Institute of Stockbrokers. He

holds a B.Sc. degree in Bio-Chemistry from Imo State University, Okigwe (Now Abia State

University) – (1986 – 1990) before obtaining his MBA in Finance from the University of Calabar in

2002.

Jude Ohanehi started his career as a Youth Corps Member in Army Barracks Janguza, Kano State

(1990 - 1993) before joining DBL Beverages Ltd Km 43 Onitsha-Owerri Road, Anambra State

(1991-1993).


In 1993, he joined the NPF Microfinance Bank Plc in the Credit/Marketing Department. He has at

various times worked in different departments of the Bank and has occupied different positions;

Acting Head, Abuja Liaison Office, General Service Treasury Department on Acting Capacity (2002

– 2005), Head Abuja Liaison Office (2005 - 2009) and Head Financial Control (2009 – 2012)

He is an Associate Member, Nigerian Institute of Management (2000) and has attended

numerous financial courses; Lagos Business School, Chartered Institute of Bankers, Bridgewater

and Associate among others. He is a recipient of several awards and has three unpublished

works.

He was the Bank’s Head Finance & Administration since 2012 prior to this appointment.

JOSEPHINE IGBINOSUN



BOC GASES NIGERIA PLC

July 8, 2014

NOTICE OF RETIREMENT OF MR. J.A. IDOWU

BOC Gases Nigeria Plc has notified The Nigerian Stock Exchange that at the meeting of the

Directors of the Company held on Wednesday, June 25, 2014 it was resolved that the exit date

for Mr. J.A. Idowu, the retiring Managing Director, be extended to July 31, 2014.

The extension is to allow time to complete immigration formalities for his replacement who is

coming from Zambia.

JOSEPHINE IGBINOSUN




July 10, 2014

Appointment of New Managing Director

Caverton Offshore Support Group Plc has notified The Nigerian Stock Exchange that as part of its

repositioning plans, Caverton Helicopters, a subsidiary of Caverton Offshore Support Group Plc

(COSG), has named Captain Josiah Choms as its new managing director with effect from August

1st.

Captain Choms will take over from Mr. Sola Falola who steps down on July 31st as the pioneer

Managing Director/Accountable Manager of the leading provider of aviation support services to

the oil and gas sector. Having successfully served out two terms of four years apiece, Mr. Falola is

stepping down in line with the company’s corporate governance practice.

Mr. Falola will however remain a member of the board of Caverton Offshore Support Group Plc,

Caverton Helicopters’ parent company, and is expected to play critical roles as the Company

diversifies into the provision of first-of-its-kind aviation training and aviation maintenance, repair

and overhaul services in Nigeria. Apart from retaining his position as a board member of the

Caverton Group, Mr. Falola will also continue to be the Chairman of Caverton Aviation,

Cameroon.

Captain Josiah Choms, the incoming Managing Director, has had over 15 years of continuous

aviation experience and is the erstwhile Shell Contract Manager for Caverton Helicopters. He

holds the Airplane Transport Pilot Licenses (Aeroplanes and Helicopters) and is a Certified Flight

Instructor and an Authorized Examiner for the Nigerian Civil Aviation Authority. He is also an ISO

9001:2008 Lead Auditor.

He has held several positions of increasing responsibility as part of a progressive senior

management development. He was at the heart of the introduction of the state-of-the-art

AW139 helicopter type into Caverton Helicopters.

Captain Choms joined Caverton in August 2010, serving first as the Chief Pilot for Shell Port

Harcourt before his promotion to Managing Pilot for the entire Shell Operations covering Port

Harcourt, Warri and Lagos. He was appointed Deputy Director of Operations with concurrent

responsibility as Deputy Shell Contract Manager and took over as the substantive Shell Contract

Manager in May 2013, a position he held creditably with stable operations and good availability.


Capt Choms has attended several aviation and management courses in Nigeria and abroad

including Cranfield University, UK and Massachusetts Institute of Technology, USA. He also holds

a multi-disciplinary Doctor of Philosophy (PhD) degree from the University of Wales, UK and is a

member of several professional bodies including the Association of African Studies of the UK, the

Royal African Society, and the National Association of Pilots and Engineers.

JOSEPHINE IGBINOSUN



CONTINENTAL REINSURANCE PLC

July 14, 2014

Registration of subsidiary company

Continental Reinsurance Plc has notified The Nigerian Stock Exchange that it has been granted a

license to open a subsidiary in Gaborone, Botswana. The new Company will operate and be

known as Continental Reinsurance Company Limited, Gaborone, Botswana.

Continental Reinsurance Plc owns 60% of the shares of the new company. With the new

company, Continental Reinsurance Plc will be able to serve all the countries existing in the South

of Africa and the African Indian Ocean Islands including Angola, Mozambique, Botswana,

Namibia, Lesotho, South Africa, Madagascar, Swaziland, Malawi, Zambia, Mauritius and

Zimbabwe in line with its strategic direction.

This is expected to significantly boost premium income and profit of Continental Reinsurance Plc.

JOSEPHINE IGBINOSUN



Lafarge Cement Wapco Nigeria Plc

July 14, 2014

Proposed Merger between Lafarge SA (France) and Holcim Ltd

Lafarge Cement Wapco Nigeria Plc has notified The Nigerian Stock Exchange that its parent

company, Lafarge SA (France) and Holcim Ltd (a company organised under the laws of

Switzerland) has announced the formal signing of the combination agreement, marking the

conclusion of the merger terms they announced on April 7, 2014.

The company informs that this combination remains conditional upon the required regulatory

and other customary consultations and approvals. The closing of the planned merger is expected

in the first half of 2015. The merger is aimed at creating the most balanced and diversified

portfolio in the industry, operation in 90 countries and creating superior value for its

stakeholders.

Lafarge Cement Wapco Nigeria Plc further informs that this combination agreement and closing

of the planned merger will not impact the direct shareholding of Lafarge Cement Wapco Nigeria

Plc.

JOSEPHINE IGBINOSUN




July 15, 2014


Guaranty Trust Bank Plc has notified The Nigerian Stock Exchange that the Board of Directors of

the Bank will meet on Thursday, July 24, 2014 to consider the Audited Financial Statements for

the Half-Year ended June 30, 2014. Issues relating to interim dividend declaration may also be

discussed at the meeting.

The Bank also informs that the Audited Accounts will be forwarded to the Central Bank of Nigeria

for approval prior to the release of the results on the floor of The Nigerian Stock Exchange.

JOSEPHINE IGBINOSUN



STERLING BANK PLC

July 15, 2014

Retirement and Appointment of Directors

Sterling Bank Plc has notified The Nigerian Stock Exchange of the resignation of the following

Directors from the board of the bank:

1. Alhaji (Dr.) S.A. Adegunwa, OFR (Chairman)

2. Alhaji Bashir Borodo, OON

3. Mr. Yemi Idowu

The Bank also announced the appointment of Mr. Asue Ighodalo as the Chairman of the Board of

Directors. This appointment was made at the Bank’s Board meeting held on Tuesday, 8th July

2014.

JOSEPHINE IGBINOSUN



CONTINENTAL REINSURANCE PLC

July 16, 2014

Notification of a Potential Transaction

Continental Reinsurance Plc has notified The Nigerian Stock Exchange of a potential divestment

by ECP Africa Fund II PCC and its partners (the ECP Fund II Consortium) of their interests in C-Re

Holding Limited. C-Re Holding is a Mauritius-based limited liability company wholly owned by the

ECP Fund II Consortium and is the majority shareholder in Continental Reinsurance Plc, currently

holding approximately 50.6% of the issued share capital of the Company.

ECP Africa II PCC and its partners are exploring the potential divestment of their investment in C-

Re Holding Limited, which holds a majority equity stake in Continental Reinsurance Plc. The

Company therefore advises shareholders to exercise caution when dealing in the Company’s

shares until a further announcement is made.

JOSEPHINE IGBINOSUN



ZENITH BANK PLC

July 17, 2014


Zenith Bank Plc has notified The Nigerian Stock Exchange of the resignation of Sir Steve Omojafor

as the Chairman of the Board of the Bank effective June 16, 2014.

The Bank, also informs that at its Board of Directors meeting of April 2, 2014 Mr Jim Ovia was

appointed as a Non-Executive Director and Chairman of the Bank and Mr Olusola Oladipo as an

Executive Director of the Bank respectively, however the appointments were with effect from

June 16, 2014.

Mr Olusola Oladipo: A fellow of the Institute of Chartered Accountants of Nigeria (FCA) holds a

Bachelor of Science (B.Sc.) in Accounting from Obafemi Awolowo University IIe-Ife, Nigeria (1991)

before obtaining his Masters in Business Administration (MBA) from the University of Lagos in

1996.

Olusola, an Associate, Institute of Chartered Accountants of Nigeria (ACA) and Chartered Institute

of Stockbrokers of Nigeria (ACIS) respectively started his working career as a Youth Corps

Member in 1992 with First City Merchant Bank in the Domestic Operations Department and

Prime Merchant Bank Ltd as a Supervisor, Treasury Department.

After his service year, he joined Zenith Bank Plc in 1994 as a Senior Executive Assistant, Consumer

Banking Group and has been with the bank till date rising through the ranks.

He became an Assistant Banking Officer (June 1996 – April 1997)

Banking Officer, Corporate Banking Department ( May 1997 – Oct 1998)

Assistant Manager, Corporate Banking Department (Oct 1998 – Nov 1999)

Deputy Manager, Corporate Banking (Nov 1999 – Nov 2000)

Manager, Corporate Banking Group (Dec 2000 – Dec 2002)

Senior Manager/Group Head, Corporate Banking Group (Dec 2002 – June 2003)

Assistant General Manager, Corporate Banking Group (June 2003 – Feb 2004)

Acting Zonal Head, Marina (Overseeing 6 Branches) (Feb 2004 – June 2004)

Assistant General Manager/Group Head, Corporate Banking (June 2004 – March 2005)

Deputy General Manager/Deputy Head, Corporate Banking Group (March 2005 – Oct 2007)

and


General Manager/Group Head, Aviation, Conglomerates, Consumer Credits &

Agriculture/Group Zonal Head, Ilupeju.

Mr Olusola has attended several key professional courses both within and outside Nigeria among

which are: Developing Strategies for Value Creation, London Business School (2002), High Impact

Leadership in Columbia University, New York (2008) and several others. He is a member of

notable professional bodies, an Associate, Chartered Institute of Taxation of Nigeria (ACIT) and an

Honorary Senior Member of Nigeria Institute of Bankers.

He was the General Manager/Group Zonal Head, Apapa prior to this appointment.

JOSEPHINE IGBINOSUN



NIGERIA INTERNATIONAL DEBT FUND

July 17, 2014

Notification of 33rd Coupon Payment

Afrinvest Asset Management Limited, managers of The Nigeria International Debt Fund has

notified The Nigerian Stock Exchange that the Trustees of the Fund has approved the distribution

of N44,171,877.51 (Forty-four million, one hundred and seventy one thousand, eight hundred

and seventy seven naira and fifty kobo) as coupon to the note holders as at 29th July 2014.

The coupon which represents 50% of the Net Income of the Fund, is the first of the bi-annual

coupon policy of the NIDF for the first half of the 2014 financial year. While coupon rate would be

determined by the number of note holders in the register of the Fund by 29th July 2014, it is

estimated that the minimum coupon rate payable per note will be N36.00.

The approved sum will be paid to Note Holders within 2 weeks of the Closure date.

JOSEPHINE IGBINOSUN



JULIUS BERGER PLC

July 17,, 2014

Board Changes

Julius Berger Nigeria Plc has notified The Nigerian Stock Exchange that at its Board of Director

Meeting held on June 18, 2014 Mr. Detlev Lubasch was appointment of as a Director and the new

Managing Director of the Company effective July 1, 2014.

Mr Lubasch replaces Engineer Wolfgang Goetsch, who resigned his appointment as the Managing

Director of the Company, with effect from June 30, 2014, to take up other responsibilities within

the Julius Berger Group but remains on the Board of Julius Berger Nigeria Plc as a Non-Executive

with effect from July 1, 2014

Engineer Detlev Lubasch: He has a Diploma –Ign. (Civil Engineer) in 1983 from Technical

University, Darmstadt.

Mr. Lubasch started his professional career as a Structural Engineer with a private engineering

office in Idestein/Germany with focus in all kinds of static calculations of reinforced concrete

works, steel and wooden constructions.

Mr Lubasch relocated to Nigeria as a works Planner in Abuja for Infrastructural contracts: Central

Area Phase II, Maitama Residential District (1987 – 1989), and became the Site Manager in Abuja

for turnkey building contracts supervising the construction of Government Residential Buildings,

a Golf Course Clubhouse, renovating of buildings, with highest standard (1989 – 1993).

He became the Project Manager for the Construction of the Ikot Abasi Aluminium Smelter Plant

in Akwa Ibom State, Nigeria (1993 – 1998). Lubasch became a Corporate Coordinator affiliated

with Julius Berger Nigeria Plc in Abuja (1998 – 1999) while between 2000 – 2001, he was the

Project Engineer with International Division Head Office (Bilfinger Berger Nigeria GmbH) in

Wiesbaden; development and tendering of new projects in Nigeria.

Other notable positions and roles Mr. Lubasch occupied in Julius Berger Plc include: Project

Manager for an Infrastructural contract in Abuja – Abuja Additional Roads Phase I (2001 – 2002),

Project Manager for the Building Department (ABD) in Abuja (2002 – 2003), Divisional Manager

for Abuja Projects (2003 – 2007), Divisional Manager for ABU-FSP: Abuja projects and those for

the Federal Government, State Governments and Parastatals and Private Clients (2007 – 2009)


He is a member of the Board of Julius Berger International GmbH and was an Office Engineer for

Technical Departments at the Bilfinger Berger Nigeria GmbH in Wiesbaden prior to this

appointment.

JOSEPHINE IGBINOSUN




July 17,, 2014

Ecobank Group Gets Capital Markets Authority Nod to Open Investment Bank in Kenya

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange that EBI Investment

Corporation Kenya Limited, a subsidiary of Ecobank Capital, has been granted an investment bank license

by the Capital Markets Authority in Kenya. Ecobank Capital (registered as Ecobank Development

Corporation) is the investment banking arm of the Ecobank Group, with operating offices currently in

Abidjan, Accra, Lagos and Douala, including dealing membership of five African stock exchanges: the

Ghana Stock Exchange, Nigerian Stock Exchange, Bourse Régionale des Valeurs Mobilières in Abidjan,

Douala Stock Exchange and Bourse des Valeurs Mobilières d’Afrique Centrale in Libreville.

Ecobank Capital’s entry into Kenya follows its acquisition of the investment advisor Iroko Securities Kenya

Limited in July 2013 and subsequent application to the Capital Markets Authority for an investment bank

license in November 2013. Ecobank Capital joins a growing number of financial services institutions in

Kenya which are moving into investment banking to complement their commercial banking services.

JOSEPHINE IGBINOSUN



Nestle Nigeria Plc

July 17,, 2014

Notification of Period of Closure of Trading on Nestle Shares by Insiders

Nestle Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors will meet on Friday,

25th July 2014 to consider the half-year results of the Company for the period ended 30th June 2014.

The Company consequently informs that the period of closure of trading on the shares of the Company by

Insiders will start from 10th July 2014 to 29th July 2014.

JOSEPHINE IGBINOSUN



CHAMPION BREWERIES PLC July 17, 2014

Rights Issue

Please be informed that further to the application for a Rights Issue of 6,300,000,000 ordinary

shares of 50 kobo each at N1.85 per share, by Champion Breweries Plc, the applicable dates have

been fixed as follows:

Qualification Date: Wednesday, 7th May 2014

Offer Opens: Monday, 4th August 2014

Offer Closes: Wednesday, 10th September 2014

JOSEPHINE IGBINOSUN



FORTE OIL PLC July 22, 2014

Notification of Period of Closure of Trading Forte Oil Plc Shares by Insiders

Forte Oil Plc has notified The Nigerian Stock Exchange that all insider related trading have closed

with effect from Monday, July 21, 2014 and will remain closed till Thursday, August 7, 2014.

The Company also notified that its Board of Directors will meet on Wednesday, August 6, 2014 to

consider and approve the audited financial results for the half-year ended June 30, 2014.

JOSEPHINE IGBINOSUN



SOVEREIGN TRUST INSURANCE PLC July 30, 2014

NOTIFICATION OF PROPOSED RIGHTS ISSUE

Sovereign Trust Insurance Plc has notified The Nigerian Stock Exchange of the Company’s

intention to raise N1.1 billion through a Rights Issue.

The Company explained that the Rights Issue is a strategic step towards accomplishing its five

year strategic blue-print which amongst others will reinforce its competiveness’ in the Nigerian

market and improve its market share.

The offer is expected to commence in the third quarter of this year and is subject to approval of

the Securities & Exchange Commission (SEC) and The Nigerian Stock Exchange (NSE).

JOSEPHINE IGBINOSUN



LAFARGE AFRICA PLC

July 31, 2014

NOTICE OF CHANGE OF NAME

Lafarge Cement WAPCO Nigeria Plc has notified The Nigerian Stock Exchange that with effective

July 9, 2014, the Company’s name was changed from Lafarge Cement WAPCO Nigeria Plc to

LAFARGE AFRICA PLC.

According to the Company, the change of name to LAFARGE AFRICA PLC is consequent upon the

Company’s commitment to create a stronger growth platform which will accelerate the

exploitation of growth opportunities and enhance value creation for all stakeholders.

However, the legal status, office address and contact details remains the same and all contracts

remain unaltered in terms of the name of the contracting party, with corresponding obligations

and rights being assumed under the new name. In addition, the Company’s share certificates also

remain valid.

JOSEPHINE IGBINOSUN



Guaranty Trust Bank Plc

August 1, 2014

NOTIFICATION OF THE RETIREMENT OF A NON-EXECUTIVE DIRECTOR OF GUARANTY TRUST BANK PLC

Guaranty Trust Bank Plc has notified The Nigerian Stock Exchange of the retirement of Dr. (Mrs.)

Stella Okoli as a Non-Executive Director of the Bank with effect from July 24, 2014.

Dr. (Mrs.) Okoli was appointed to the Board of the Bank in February 2010. Her retirement is in

compliance with the provisions of the Code of Corporate Governance of the Bank, which

stipulates that Non-Executive Directors shall retire from the Board upon attaining the age of

seventy (70) years.

The vacancy created by the retirement of Dr. (Mrs.) Okoli from the Board of the Bank has since

been filled by Mr. Hezekiah Adesola Oyinlola.

JOSEPHINE IGBINOSUN



DANGOTE CEMENT PLC

August 8, 2014

APPOINTMENT OF A NEW DIRECTOR TO THE BOARD OF DANGOTE CEMENT PLC

Dangote Cement Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Fidelis

Madavo as a member of the Board of Directors of the Company effective July 30, 2014. His

appointment will be presented to the Shareholders of the Company for ratification in the next

Annual General Meeting.

Mr Fidelis holds B.Sc. in Chemical Engineer from the University of Wales, United Kingdom (1983)

before obtaining his M.Sc. in Industrial & Administrative Science from City University, London

(1986). He also holds a certificate in International Executive Development Program from Wits

Business School & London Business School (2009).

Fidelis started his working career with Bindura Nickel Corp as a Metallurgist (1983 – 1984) before

joining Rio Tinto Plc, a mining Company, also as a Metallurgist (1986). In 1998, he became an

Executive Assistant to the Chairman while working with JCI Limited, Johannesburg, a mining

House.

Between January 1999 and September 2001, Mr Madavo joined Investec Securities Ltd,

Johannesburg as a Resources/Mining Analyst and also worked with Citi Group Global Market as

the Vice President Mining, October 2002 – October 2006.

He has attended several trainings both within and outside Nigeria and was the Head of

Resources/Portfolio Manager, Listed Africa Investments, Public Investment Corporation (PIC)

prior to this appointment.

JOSEPHINE IGBINOSUN



LAW UNION & ROCK INSURANCE PLC

August 11, 2014

NOTIFICATION OF APPOINTMENT OF A DIRECTOR

Law Union & Rock Insurance Plc has notified The Nigerian Stock Exchange that at its Board of

Directors’ meeting held on Thursday, 24th July 2014 Mr. Emmanuel Ajibola Olayinka was

appointed a Director of the Company effective July 24th 2014. Mr. Emmanuel Ajibola Olayinka

was also nominated into the Investment Committee and Strategy and Transformation Committee

of the Board.

Mr Emmanuel Ajibola Olayinka was the Commercial Director for Globacom operations in Nigeria,

Benin and Ghana. Prior to this, he was the Managing Director/Chief Executive Officer of DN

Meyer Plc from (1st March, 2004 – May 20, 2010).

He held the position of Executive Director at the Corporate Headquarters of Honeywell Group

and later became the MD/CEO of Skyview Estate Limited. Mr. Ajibola has also held operational

and leadership positions in numerous reputable organizations such Lagos Statement Ministry of

Finance, Treasury Division; KPMG Peat Marwick Ani Ogunde & Co as Senior Auditor; Arthur

Andersen as Senior Consultant; Ecobank Nigeria Plc as Head of Control; Cash Link Finance and

Investment Plc as Senior Manager; Esso Exploration and Production Nigeria Limited (now Exxon

Mobil) as the pioneer Company Accountant in Nigeria and Khalil and Dibbo Transport Limited as a

turnaround executive.

His formal education took him through Wesley College Ibadan and University of IIorin in Nigeria

(BSc Accounting). He also attended extended extensive trainings and development courses in

Nigeria, United Kingdom, United States of America, Holland, Spain, South Africa among others.

He is a Fellow of the Institute of Chartered Accountants of Nigeria, a member of Chartered

Institute of Taxation of Nigeria and a Council Member, Manufacturers Association of Nigeria

(MAN). He was the Chief Finance Officer involved in rolling out new business model for The

Candel Company Limited, an agricultural company, prior to this appointment.

JOSEPHINE IGBINOSUN



LAW UNION & ROCK PLC

August 11, 2014

NOTIFICATION OF THE APPOINTMENT OF A DIRECTOR

Law Union & Rock Insurance Plc has notified The Nigerian Stock Exchange that its Board of

Directors met on Thursday, 24th July 2014 and approved the appointment of Mr. Folarin Ademola

as a director of the Company effective July 24th, 2014. He was also nominated into the following

Board committees: Statutory Audit Committee, Strategy and Transformation Committee and

Enterprise Risk Management Committee.

Mr Folarin Ademola Familusi holds a BSc in Computer Science majoring in Information Systems

from the American International University in London, Surrey (1993) before obtaining a BBA

Degree in Business Administration in 1994 from the same University. He went ahead to acquire a

Masters Degree in Business Studies (MBS) in 1998 from the University of Kent at Canterbury and

also has Masters (MSc) in Business Administration from the same University (2004).

Folarin started his professional career as a Corps member with Swede Control InterTek Ltd as an

Administrative Officer (2002 - 2003). He joined InterTek Testing Services, Headquarter in London

as a Manager Mergers and Acquisition (2003 - 2004). Between August 2004 and January 2005, he

was the Regional Chief Accountant of InterTek Group Plc, LEADTHERHEAD, UK.

Mr. Folarin relocated to Nigeria in 2005 and join Excel Travels Limited, Lagos, as a Management

Consultant and from October 2005 – December 2006, he was the Verification Officer with Union

Registrars Ltd, Lagos. From January 2006 – December 2007, he was Special Assistant (Funds &

Portfolio) to the MD/CEO Wise Health Services Ltd, Abuja.

He also worked with Digital Toll Company Ltd as Principal Manager (2009) and in Swanlux Global

Investments Ltd – General Manager Business Development – 2010. Folarin is a Member of the

famous Ikoyi Club of 1938 and was the Executive Director, Operations in Swede Control InterTek

Ltd before this appointment.

JOSEPHINE IGBINOSUN



EQUITY ASSURANCE PLC

August 12, 2014

NOTIFICATION OF THE APPOINTMENT OF A NEW COMPANY SECRETARY

Equity Assurance Plc has notified The Nigerian Stock Exchange of the appointment of Mr. John

Nkemakolam Akujieze as the new Company Secretary of Equity Assurance Plc.

John is a graduate of Law (Second Class Upper, Best Graduating Student) – 1997 - from Nnamdi

Azikiwe University Awka and has his Masters of Law and Business Administration Degrees from

University of Lagos in 2002 and 2009 respectively. He was at the Nigerian Law School, Abuja for

his B.L in 1999. Mr. Akujieze is also an Associate of the

Chartered Institute of Arbitrators and Management.

He had over fourteen years’ continuous banking experience embracing Legal Services, Company

Secretarial practice and Human Resources Management. He joined Associated Discount House

Limited in 2000 as Deputy Head, Company Secretariat, Legal and Human Resources departments

and rose to become the Group Head, Corporate Services & Resources with oversight

responsibilities for Company Secretariat, Legal, Administration, Protocol and Communications. He

had a brief stint with National Maritime Authority for his mandatory Youth Service Corps before

joining Associated Discount House Limited.

He resigned from Associated Discount House Limited in July 2014 to join Equity Assurance Plc as

Company Secretary, Head Legal & Compliance.

He was called to the Nigerian Bar in 1999.

JOSEPHINE IGBINOSUN




August 13, 2014

HALF YEAR ACCOUNTS OF MANSARD INSURANCE PLC FOR THE PERIOD ENDED JUNE 30, 2014

Mansard Insurance Plc has notified The Nigerian Stock Exchange that the Board of Directors of

the company is yet to approve its Audited Financial Statements for the half year ended June 30,

2014 as the Accounts are yet to be concluded by the External Auditors. The Auditors have

indicated that they require a maximum of additional two weeks to finalise the accounts.

Mansard has however, committed that upon receipt of the accounts and subsequent approval by

the Board of the Company, the Accounts shall be submitted to The Nigerian Stock Exchange on or

before August 29, 2014.

JOSEPHINE IGBINOSUN



ACCESS BANK PLC

August 13, 2014

AUDITED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED JUNE 30, 2014

Access Bank Plc has notified The Nigerian Stock Exchange that its audited half-year result for the

period ended June 30, 2014 will be submitted to the Central Bank of Nigeria (CBN) tomorrow,

August 14, 2014 for approval.

The bank expects to receive CBN’s approval of the account within a fortnight and will file the

result with The Exchange as soon as CBN’s approval is received.

JOSEPHINE IGBINOSUN



TRANSNATIONAL CORPORATION OF NIGERIA PLC (TRANSCORP)

August 13, 2014

NOTIFICATION OF APPOINTMENT

Transnational Corporation of Nigeria Plc (Transcorp) has notified The Nigerian Stock Exchange of

the appointment of Mr. Emmanuel N. Nnorom as the President/Chief Executive Officer Designate

of Transnational Corporation of Nigeria Plc.

Mr. Nnorom will take over from the outgoing President/Chief Executive Officer, Mr Obinna Ufudo

with effect from September 1, 2014.

Emmanuel Nnorom, who is the current President/COO of Heirs Holdings Ltd and a non-Executive

Director of Transcorp is a seasoned banker, auditor and accountant. Prior to this, he was an

Executive Director of United Bank for Africa (UBA) in charge of the Group’s Africa subsidiaries. He

has also held the position of Group Chief Operating Officer at UBA with responsibility over

information technology, operation, corporate services, marketing and corporate communications

and regulatory affairs.

He is an Alumnus of the Oxford University, Templeton College and Fellow of both the Institute of

Chartered Accountants of Nigeria (ICAN) and the Chattered Institute of Bankers of Nigeria (CIBN)

JOSEPHINE IGBINOSUN




August 14, 2014

NOTIFICATION OF APPOINTMENT OF EXECUTIVE DIRECTOR

Vitafoam Nigeria Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Olatunji

Oludare Anjorin as Executive Director – Group Corporate Services of the company.

Mr. Anjorin is a graduate of Accounting from the University of Lagos and studied at the

prestigious Ashridge Business School, Bekhamsted, United Kingdom. He is a member of the

Chartered Institute of Personnel Management of Nigeria (CIPM), an alumnus of LBS PAN African

University and Ashridge Business School, Berkhamsted, United Kingdom.

Prior to his appointment to the Board of Vitafoam Nigeria Plc, he was the Head of Human

Resources for UAC Restaurants in Nigeria and Ghana, Group GM, Human Resources at PZ Cussons

Nigeria Plc and Managing Director of Vitablom Nigeria Limited (a subsidiary of Vitafoam Nigeria

Plc).

JOSEPHINE IGBINOSUN



VONO PRODUCTS PLC

August 14, 2014

NOTIFICATION OF APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Vono Products Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Olatunji

Oludare Anjorin as a Non-Executive Director of the company.

Mr. Anjorin is a graduate of Accounting from the University of Lagos and studied at the

prestigious Ashridge Business School, Bekhamsted, United Kingdom. He is a member of the

Chartered Institute of Personnel Management of Nigeria (CIPM), an alumnus of LBS PAN African

University and Ashridge Business School, Berkhamsted, United Kingdom.

Prior to his appointment to the Board of Vono Products Plc, he was the Head of Human

Resources for UAC Restaurants in Nigeria and Ghana, Group GM, Human Resources at PZ Cussons

Nigeria Plc and Managing Director of Vitablom Nigeria Limited (a subsidiary of Vitafoam Nigeria

Plc).

In addition, the company also announced the disengagement of its Managing Director, Mrs.

Titilola Bakare. Her disengagement was sequel to her redeployment as the Managing Director of

Vitablom Nigeria Limited a soft furnishing subsidiary of Vitafoam Nigeria Plc.

In meantime, the Board of Vono Products Plc has decided that Mr. Olatunji Oludare Anjorin, a

newly appointed Non-Executive Director, shall discharge the role of Managing Director in acting

capacity, pending the appointment of a substantive Managing Director.

JOSEPHINE IGBINOSUN



TRIPPLE GEE & COMPANY PLC

August 18, 2014

RESIGNATION OF APPOINTMENT – MR TOLA OSHUNKIYESI – MANAGING DIRECTOR/CEO, TRIPPLE

GEE & CO. PLC

Triple Gee and Company Plc has notified The Nigerian Stock Exchange of the resignation of Mr.

Tola Oshunkiyesi as the Managing Director/Chief Executive of the Company with immediate

effect.

The Company informed that Mr. Tola Oshunkiyesi, whose appointment was still on probation,

gave no reason for his exist. The Board of Directors of the Company has accepted his resignation

and is currently sourcing for his replacement.

JOSEPHINE IGBINOSUN



GT BANK PLC

August 21, 2014

STATEMENT TO THE NIGERIAN STOCK EXCHANGE ON THE RESULTS FOR THE HALF – YEAR ENDED

JUNE 30, 2014

GTBank Plc has notified The Exchange that CBN has approved its Audited Accounts for the half-

year ended June 30, 2014, and the recommendation of its Board of Directors on the payment of

an interim dividend at the rate of 25 kobo per 50 kobo Ordinary share.

JOSEPHINE IGBINOSUN



CITADEL REGISTRARS LIMITED

August 22, 2014

WEMA REGISTRARS LIMITED BECOMES CITADEL REGISTRARS LIMITED

Wema Registrars Limited has notified The Nigerian Stock Exchange that it has changed its name

to CITADEL Registrars Limited with effect from July 21, 2014.

All previous correspondences with the Company’s former name remain valid. However, its email

and website addresses are as follows:

Email - [email protected]

Website - www.citadelregistrars.com

JOSEPHINE IGBINOSUN

mailto:[email protected]

http://www.citadelregistrars.com/



August 22, 2014

OANDO ENERGY RESOURCES REDUCES DEBT BY US$98 MILLION THROUGH CONVERSION OF

OANDO PLC LOAN TO EQUITY

Oando Energy Resources Inc. ("Oando Energy Resources" or the "Company") (TSX:OER), is

pleased to announce the conversion to equity of principal and interest in the amount of US$ 98

million, outstanding under the US$ 1.2 billion facility agreement dated 10 February, 2014 with

Oando Plc (the "Oando Loan") (the "Conversion"). US$ 41 million of principal remains

outstanding under the Oando Loan and an aggregate principal amount of approximately US$ 292

million remains available to be drawn under the Oando Loan.

OER has issued 68,144,115 units (the “Units”) to Oando Resources Limited (“Oando Resources”),

a subsidiary of Oando Plc, as repayment of amounts outstanding under the Oando Loan at a

conversion price of C$1.57 per Unit. Each Unit consists of one common share of the Company (a

“Common Share”) and one-half of one warrant to purchase an additional Common Share at a

price of CAD$ 2.00 per Common Share (each whole common share purchase warrant being a

“Warrant”) up until 30 July 2016, a 24 month period from which the Company closed the

acquisition of the Nigerian upstream oil and gas business of ConocoPhillips. The terms of the

Units, other than the denomination of the conversion price and exercise price in United States

dollars, have the same terms as the Units issued to third party investors and Oando Resources on

previous tranches.

Prior to the completion of the Conversion, Oando Plc owned, and exercised control or direction

over, 677,963,723 Common Shares, representing approximately 93.2% of the issued and

outstanding Common Shares. As a result of the Conversion, Oando Plc currently beneficially

owns, or exercises control or direction over, 746,107,838 Common Shares, representing

approximately 93.8% of the issued and outstanding Common Shares. Assuming exercise of the

Warrants and warrants previously issued to Oando Plc on previous tranches of the loan, Oando

Plc would beneficially own, or exercise control or direction over, 1,071,500,708 Common Shares,

representing approximately 95.6% of the Company's issued and outstanding Common Shares;

however, Oando Plc is restricted from exercising any warrants that would result in its ownership

of the Company exceeding 94.6%.

Amounts owing under the Oando Loan in the future may be converted into Units at one or more

prices to be determined in accordance with the pricing mechanism described in OER’s press

release dated February 10, 2014.


Josephine Igbinosun


August 27, 2014

Diamond Bank Rights Issue – Acceptance Closure Date

Stanbic IBTC Stockbrokers Ltd, has on behalf of Diamond Bank Plc, notified The Nigerian Stock Exchange

that the Acceptance List for the Diamond Bank Rights Issue closed on Tuesday, 26 August, 2014.

Accordingly, Receiving Agents nationwide are advised to prepare and forward their returns to the

Registrars to the Rights Issue, Centurion Registrars Limited at 70B, Acme Road, Ogba, Lagos State, no later

than Tuesday, 02 September, 2014 as stated in the Right Circular approved by the Securities and Exchange

Commission.

Josephine Igbinosun



August 28, 2014

Appointment of Non-Executive Director – Cement Company of Northern Nigeria Plc

Cement Company of Northern Nigeria Plc has notified The Nigerian Stock Exchange of the

appointment of Mr. Finn Arnoldsen as a non-Executive Director of the Company.

Born on September 3, 1954, Mr. Arnoldsen

2. Working Experience:

Edo Cement Company Ltd, Nigeria.

2012 - Managing Director

Cement Company of Northern Nigeria Plc.

2008 - 2012 Director Marketing & Sales

Scancem International ANS

2004 – 2008 Senior Vice President – Responsible for West Africa

Member of SIANS Management Group

Chairman/member of the Board of Fortia Cement SA, Togo.


Chairman/member of the Board of Leocem Ltd, Sierra Leone

Member of the Board of Cimtogo SA, Togo

Member of the Board of Cimbenin SA, Benin

Member of the Board of Cemenco Ltd, Liberia

Member of the Board of Ghacem Ltd,

1999 – 2004 Senior Vice President – Responsible for Southern Africa

Member of SIANS management group

Chairman/member of the Board of Scanang Ltd, Gibraltar

Chairman/member of the Board of Tanzania Portland Cement, Tanzania

Vice Chairman/member of the Board of Nova Cimangola, Angola

Member of the Board of Cimgabon, Gabon

Member of the Board of Cimcongo, Congo Brazzaville

1997 – 1999 Deputy COO, Africa operations & Area Manager

Responsible for Tanzania, Nigeria, Ghana, Sierra Leone & Liberia

1994 – 1997 Area Manager

Responsible for Ghana, Sierra Leone & Liberia


1991 – 1994 Project/Technical Manager

Responsible for technical coordination and new projects in the Africa

Division.

1986 – 1991 Plant Manager, Ghacem Ltd. Takoradi, Ghana

Norcem A/S, Norway

1984 – 1986 Project Manager, Norcem Coal & General Manager Chr. Dahl A/S

Alfa Laval Zeta A/S, Norway

1981 – 1984 Sales Manager

Joetul A/S, Norway

1979 – 1981 Project Engineer


SINTEF (Norwegian Institute of Technology), Norway

1977 – 1978 Researcher solid fuel

3. Education:

2004 INSEAD, France - Senior Management Development

1977 IMD, Switzerland – Executive Management Development

1973 – 1977 NTH, Norway – Master of Science, Mechanical Engineering

4. Language skills:

Fluent in English, some knowledge of French and German.



August 29, 2014

Notification of Board Meeting – Guinness Nigeria Plc

Guinness Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors will

meet on Thursday, 4th September 2014 for the purpose of considering the company’s results for

the financial year ended 30th June 2014, among other businesses.

The company informs that the results will be presented to The Exchange no later than Monday,

8th September 2014.

Josephine Igbinosun



September 1, 2014

Transcorp Hotels Plc – Proposed Initial Public Offering

Transcorp Hotels Plc, a hospitality subsidiary of Transnational Corporation of Nigeria Plc

(Transcorp Plc), has filed an application for an Initial Public Offering of 800,000,000 ordinary

shares of 50 kobo each at N10.00 per share.

Transcorp Plc holds 88% interest in Transcorp Hotels Plc through Capital Leisure and Hospitality

Limited. The remaining 12% is owned by the Federal Government of Nigeria.

The application is currently being processed by The Exchange.

Josephine Igbinosun



September 1, 2014

Caverton-RK Wins Contract to Supply Drilling Vessels to SEPCOL

Caverton Offshore Support Group Plc (COSG) has notified The Exchange that Caverton-RK has been

awarded a contract to supply two drilling vessels to Shebah Exploration and Production Company Limited

(SEPCOL).

The contract, which commenced in August, 2014 will run for an initial period of three months and provides

for Caverton-RK to supply two vessels in support of Rig Trident VIII SEPCOL’s offshore drilling operations.

Caverton-RK is a joint venture between RKOffshore of Singapore and Caverton Marine Limited (one of the two subsidiaries of COSG). The joint venture was formed in 2012 to take advantage of growing opportunities in the offshore support vessel sector. On its part, SEPCOL is an indigenous exploration and production company and operator of the Ukpokiti offshore field, which it acquired from ConocoPhillips in 2004.

Josephine Igbinosun



September 5, 2014

Press Release Ecobank Announces Strategic Partnership with Qatar National Bank Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange of the acquisition of a 12.5(1) percent minority stake in ETI by Doha-based Qatar National Bank (QNB) through QNB’s purchase of both ordinary and convertible preference shares. QNB bought the shares from the Asset Management Corporation of Nigeria (AMCON) on the floor of The Nigerian Stock Exchange. Following the transaction Ecobank is discussing a strategic partnership with QNB which will enable the two banks to forge business relationships of mutual interest to their respective customers. ETI states that this strategic link with QNB, one of the world’s strongest banks, will enhance Ecobank’s reach in North Africa and the Gulf. Ecobank already has a strong strategic partnership with South African banking giant Nedbank, which makes it a dominant player in Middle Africa and South Africa. This will enhance Ecobank’s position as the Pan-African Bank. QNB operates in 26 countries and three continents. It has a significant trading presence in Africa with branches, subsidiaries and associates operating in Algeria, Egypt, Libya, Mauritania, South Sudan, Sudan and Tunisia. It was recognised as “The Best Bank in The Middle East” by Euromoney Magazine and was voted “One of the Top 50 Safest Banks in the World” by Global Finance Magazine in 2013. The stake of 12.5% includes current outstanding ordinary shares and the conversion of convertible preference shares.

Josephine Igbinosun



September 5, 2014

Closure of Register – Honeywell Flour Mills Plc Market operators and other stakeholders are hereby notified that the Closure of Register of Honeywell Flour Mills Plc will now be Wednesday, 10th September 2014 as against Monday 8th September 2014. It therefore means that the qualification date for the 17 kobo dividend is now Tuesday, September 9, 2014. This was due to some operational exigencies.

Josephine Igbinosun



September 5, 2014

Coupon Payment to Note Holders – Nigeria Energy Sector Fund Nigeria Energy Sector Fund has notified The Nigerian Stock Exchange of the declaration of a coupon payment of N32.00 per note to be paid on 12th September 2014 to investors whose names appear on the Register of Note holders as at 10th September 2014.

Josephine Igbinosun



15 September 2014

The Nigerian Stock Exchange Approves Technical Suspension of the Shares of Access Bank Plc The Nigerian Stock Exchange has granted anticipatory approval for the shares of Access Bank Plc (“the Bank”) to be placed on Technical Suspension. The approval follows the application made by the Bank to The Nigerian Stock Exchange. The Bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorization for the Board of Directors to raise additional equity capital in the sum of up to NGN 68 billion by way of a Rights Issue. The Board believes that the Technical Suspension is in the overall interest of the Bank’s shareholders and will preserve shareholders’ value, on account of the proposed corporate action. The Technical Suspension will be lifted on January 27, 2015 and normal trading activities will commence on January 28, 2015.

Josephine Igbinosun



15 September 2014

Appointment of new director – Trans-Nationwide Express Plc Trans-Nationwide Express Plc has notified The Nigerian Stock Exchange of the appointment of Mrs

Aderonke Fatade as an Independent Director of the company with effect from Thursday, 12 June 2014.

Mrs Aderonke Fatade obtained her B.Sc. in Agricultural Economics (1976 – 1979) with emphasis in

Business and Management from Oklahoma State University, Stillwater, Oklahoma, USA before obtaining

an MBA Degree from the Golden Gate University, Graduate School of Business Administration, San

Francisco, California, USA (1979 – 1981).

She obtained LLB from the University of Lagos, Lagos Nigeria (1987 – 1991) and was called to Bar in

December 1992. She also has a Master’s Degree in Law (LL.M) from the University of Lagos.

Mrs Fatade started her professional career as a trainee with the Nigeria-Arab Bank Ltd, Lagos, as a youth

corps member (1980 – 1982). After her service year, she joined African International Bank (AIB), Lagos as

an Officer (1982 – 1987). Between May 1987 and March 1998, she worked with the Financial Merchant

Bank, Lagos as Head, Treasury. Other notable places she has worked include:

Abacus Merchant Bank, Lagos (April 1988 – December 1989) - Manager, Treasury

Integrated Capital Services Limited (January 1990 – August 1993) – General Manager

Consultant Associates 2000 (September 1993 – January 2004) – Legal/Investment Management

Consultant

European Union - Prime Project (February 2004 – June 2005) – Legal and Procurement Consultant

Investments & Securities Tribunal, Abuja (July 2005 – June 2008)

Securities and Exchange Commission (SEC), Abuja (June 2008 – June 2012) – Commissioner

Aderonke has attended several executive management training and workshops both within and outside

Nigeria: African School of Bonds and Securitisation Accra, Ghana, Centre for Effective Dispute Resolution

(CEDR) UK, International Arbitration and ADR in Africa, Institute of Chartered Mediators & Conciliators

among others.

She is currently an accredited Mediator and Alternative Dispute Resolution (ADR) with CEDR (UK).

JOSEPHINE IGBINOSUN



15 September 2014

NESTLE NIGERIA PLC Resignation and Appointment of a New Director Nestle Nigeria Plc has notified The Nigerian Stock Exchange that Mr. Martin Kruegel, an Executive Director,

has notified the Company of his decision to resign from the Board of Directors on 30 September 2014 as a

result of his transfer to Nestle Malaysia/Singapore.

The Board of Directors has decided to appoint Mr Syed Saiful Islam to replace Mr. Martin Kruegel with

effect from 1 October 2014 subject to the approval of the shareholders at the next Annual General

Meeting of the Company.

Born on 27th October 1972 in Bangladesh, Mr Islam obtained a Bachelor’s degree in Commerce (1st Class

Honours) Panjab University, Chandigarh, India. He further obtained a Master’s degree in Finance (2nd Class

6th position) from the Dhaka University, Dhaka, Bangladesh. He trained as a chartered accountant at KPMG

Rahman Huq from 1994 – 1997 and became a member of the Institute of Chartered Accountants of

Bangladesh in 1998.

His career history spans the following organisations:

April 2010 - Present - Nestle Lanka Plc, Vice President – Finance & Control

August 2006 – March 2010 - Nestle Bangladesh Limited, Financial & Control

December 2005 – July 2006 - Nestle Bangladesh Limited, Corporate Controller

May 2000 – December 2005 - Nestle India Limited, Controller, Northern India Region, Delhi

Manager – Financial Planning, Corporate Office

November 1999 – April 2000 - Nestle Bangladesh Limited, Manager Financial Accounting

September 1999 – October 1999 - Citibank N.A. Dhaka, Assistant Manager, Internal Control

April 1998 – September 1999 - Ericsson, Bangladesh Branch, Dhaka, Company Accountant

He is a member, of the Taxation Sub-Committee of the Ceylon Chamber of Commerce and was a member

of Trade, Tariff, Taxation and Company Affairs Sub-Committee of the Foreign Investors Chamber of

Commerce and Industry (FCCI) Dhaka, Bangladesh.

JOSEPHINE IGBINOSUN



16 September 2014

LAFARGE AFRICA PLC Completion of the Lafarge Africa Plc Consolidation Transaction

Lafarge Africa Plc (“Lafarge Africa”), formerly, Lafarge Cement Wapco Nigeria Plc announces the completion of its acquisition of Lafarge group’s (“Lafarge group”) shareholdings in Lafarge South Africa Holdings (Pty) Limited (“LSAH”), United Cement Company of Nigeria Limited (“Unicem”) through Egyptian Cement Holding BV, AshakaCem Plc (“Ashaka”) and Atlas Cement Company Limited (“Atlas”). Lafarge Africa confirmed that it had received all shareholder and regulatory approvals and met all the requirements to create the leading Sub Saharan Africa building materials company.

Lafarge Africa is the 6th largest entity listed on The Nigerian Stock Exchange (“NSE”), with a market capitalisation of ₦521.9 billion. With current cement capacity of 12 million metric tonnes per annum, the company is already on the path to further growth with an additional 5.5 million metric tonnes (2.5 million metric tonnes from Unicem’s on-going expansion project by second half of 2016 and 3 million metric tonnes in Ashakacem by mid-2017).

The consolidated company has a strong balance sheet and cash flow generation potential, which positions it for future growth opportunities and increased product range and services to meet the growing building materials demand in Sub Saharan Africa.

Lafarge Wapco, prior to its name change to Lafarge Africa, had on June 2, 2014, announced its intention to consolidate all of Lafarge’s Nigerian operations and its South African assets in order to create a stronger platform for growth in Sub-Saharan Africa, with value creating opportunities. Under the terms of the transaction, Lafarge group received 1,402,575,984 ordinary shares of Lafarge Africa and US$200 million in cash, for its 100% shareholding in LSAH, which owns 72.4% of the Lafarge group operating companies in South Africa, 35% equity stake in Unicem, a 58.61% controlling stake in Ashaka and 100% of Atlas. The total transaction is valued at approximately US$1.35 billion. The transaction was approved by shareholders at Lafarge Wapco’s Annual General Meeting, held in Lagos, on July 9, 2014.

JOSEPHINE IGBINOSUN


LCU/017/09/010

FLOUR MILLS OF NIGERIA PLC

17 September 2014

Press Release: John Coumantaros Takes Over as FMN Chairman

The Company, Flour Mills of Nigeria Plc (FMN) has notified The Exchange of the retirement of Mr

George Stavros Coumantaros as the Chairman of the Board of the Company taking effect

immediately after the conclusion of the Company’s 45th Annual General Meeting on Wednesday

10 September 2014.

Mr. G.S. was consequently endowed with the title of Founder/Chairman Emeritus and remains

on the Board as a Non-Executive Director.

Also, the Board of the Company has announced the appointment of Mr. John George

Coumantaros as the Chairman of Flour Mills of Nigeria Plc effective immediately after the

conclusion of the Company’s 54th Annual General Meeting.

Mr John Coumantaros: an experienced and success entrepreneur, sitting on the Board of several

international companies holds B.A. Degree in History from Yale University in 1984

He began his long relationship with Flour Mills of Nigeria Plc in 1984 and was appointed to the

Board of the Company as a Non-Executive Director in 1990.

John Coumantaros is the current Chairman of the Board of United Cement Company of Nigeria

Limited, Calabar, Cross River State, Nigeria. He also sits on the Board of the Oxbow Carbon LLC, a

leading international energy company and a director of ELBISCO, a fast moving consumer food

business in Athens, Greece.

Mr. Coumantaros has over years of experience in international trade, logistics, manufacturing

and industry and is passionately dedicated to continuing the evolution of Flour Mills of Nigeria

Plc. He was a Non-Executive Vice Chairman of the Company since 2012 before this present

appointment.

JOSEPHINE IGBINOSUN



LCU/018/09/011

FORTE OIL PLC

18 September 2014

Press Release: Preliminary Discussion on Possible Acquisition of a Downstream Asset

Forte Oil PLC (formerly AP PLC) has notified The Exchange that the management of the Company

has begun initial discussions with a downstream company with the intention to acquire the assets

of the said company.

Discussions on the proposed acquisition is still in its infancy, but this announcement on this

possible transaction is in the interest of full disclosure and ensuring that as a company, Forte Oil

Plc adheres to the highest corporate governance practices and procedures.

JOSEPHINE IGBINOSUN



19 September 2014

Technical Suspension on the Shares of Access Bank Plc Further to the announcement on 15 September 2014 where the share price of Access Bank Plc was placed

on Technical Suspension pursuant to an anticipatory approval granted to the Bank, the Quotations

Committee of Council of The Exchange yesterday granted final approval to the Bank.

Consequently, the market is advised that Technical Suspension will now run from 15 September 2014 to

15 October 2014. Normal transactions on the shares of the Bank will resume on 16 October 2014.

JOSEPHINE IGBINOSUN




22 September 2014

Appointment of Ms Amaka Obiora as Company Secretary

Caverton Offshore Support Group Plc has notified The Nigerian Stock Exchange that as its Board

of Directors’ meeting held on 15 September 2014 at 1, Prince Kayode Akingbade Close, Off Muri

Okunola Street, Victoria Island, Lagos the following were proposed and duly passed:

i. “That Ms Modupe Omojafor be removed as the Company Secretary’’

ii. “That Ms Amaka Obiora be appointed as the Company Secretary’’

Ms Amaka Obiora

Amaka is a lawyer with over 13 years of experience. She holds an LLB (Hon) degree from the

University of Jos, Plateau State and an LLM from the University of Witwatersrand, Johannesburg

South Africa. She was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in

2001.

She began her working career with a brief stint at Idigbe & Idigbe, a Law Firm, before she moved

to Ekocorp Plc, owner of Eko Hospital. She later worked with United Bank for Africa where she

held several strategic positions rising to become the Group Company Secretary/Head of Legal &

Compliance of UBA Capital Plc before the divestment of the Bank from all non-commercial

banking businesses in compliance with the CBN directive.

Ms Obiora was on this position at UBA Capital Plc before her current appointment with Caverton

Offshore Group Plc.

JOSEPHINE IGBINOSUN



23 September 2014

ACCESS BANK PLC

Proposed Rights Issue – Addendum to Notice of EGM

Access Bank Plc has notified The Nigerian Stock Exchange that further to the Notice of Extraordinary

General Meeting of the Bank scheduled to hold on Monday, October 13, 2014 at 11.00 a.m. at Lagoon

Restaurant, Ozumba Mbadiwe Avenue, Victoria Island, Lagos, the Bank is pleased to provide additional

information to its shareholders as follows:

Proposed Rights Issue on the basis of one (1) ordinary share for every three (3) fully paid ordinary

shares held by shareholders of the Bank.

Offer size of 7,640,449,438 (Seven billion, Six hundred and Forty million, Four hundred and Forty

Nine thousand, Four hundred and Thirty Eight) ordinary shares of 50 kobo each

Rights Issue price is NGN8.90 per share. The Rights Issue will raise approximately NGN 68 billion

(before expenses), if all shareholders fully subscribe for their rights.

The funds raised will be used to upgrade the Bank’s information technology platforms and branch

network to enable it provide better service and further improve the working environment as well

as improve its distribution channel infrastructure to enable it provide more efficient services to

clients. The funds will also be used to augment the Bank’s working capital and support risk assets

growth.

The qualification date for the rights issue shall be the date of filing the application with The

Exchange and the final date for receipt of applications for shares will be as stated in the Rights

Circular.

The rights are tradable and available to all Eligible Shareholders registered on the Qualification

Date.

Trading in the Rights Issue shares will commence on the first day of the Issue through till the

closing date.

The Issue will not be underwritten.

A Rights Circular and Allotment Form will be sent to Eligible Shareholders in due course.

Josephine Igbinosun



25 September 2014

ACCESS BANK PLC

Lifting of Technical Suspension on the shares of Access Bank Plc

Please recall that the shares of Access Bank Plc were placed on Technical Suspension on 15 September

2014 at the request of the Bank towards its proposed Rights Issue exercise.

The Bank has requested that the Technical Suspension be lifted vide a letter to The Exchange dated 23

September 2014 as it had published an addendum to the Notice of the EGM which provided shareholders

with the proposed Terms of the Offer. The Bank believes that information asymmetry issues are closed

and the rationale for Technical Suspension is less warranted.

The Technical Suspension was lifted on 24 September 2014 and normal dealings in the shares of the Bank

resumes on 25 September 2014.

Josephine Igbinosun



25 September 2014


Ecobank and Global Fund Expand Partnership

Ecobank Group and the Global Fund to Fight AIDS, Tuberculosis and Malaria are expanding a

partnership to include South Sudan after collaborating since 2011 on capacity-building

programmes for Global Fund implementers in Cote d’Ivoire and Nigeria.

Building on this successful experience, the two parties announced in Juba, South Sudan, that they

have concluded a three - to five-year agreement worth US$3 million to formalize Ecobank’s

support for the Global Fund’s work and programmes in a number of countries in Africa, including

South Sudan.

The Global Fund programme in South Sudan is being implemented through the United Nations

Development Programme (UNDP) and Population Services International (PSI).

In South Sudan, the Global Fund/Ecobank partnership seeks to strengthen the financial

management capabilities of Global Fund ‘Sub-Recipients’ and ‘Sub-Sub-Recipients’ through the

provision of technical assistance and capacity building expertise and services. Assessments were

carried out for three national programme Sub-Recipients under existing grants, namely the

Ministry of Health/HIV Programme, the National Tuberculosis, Leprosy and Buruli Ulcer Control

Programme, and the National Malaria Control Programme.

Through a partnership with Accounting for International Development (AfID), of the United

Kingdom, Ecobank South Sudan has used the information and analysis provided by the Sub-

Recipients and the Global Fund to design and implement a project plan to provide financial

management capacity building for the national entities mentioned above. This will be done

through Ecobank’s own training and through placement of AfID volunteer accountants. The

capacity building programme is expected to take about 12 weeks.

About the Global Fund

The Global Fund to Fight AIDS, Tuberculosis and Malaria mobilizes and invests nearly US$4 billion

a year to support programs run by local experts in more than 140 countries. As a partnership

between governments, civil society, the private sector and people affected by the diseases, the

Global Fund is accelerating the end of AIDS, TB and malaria as epidemics.

Josephine Igbinosun




25 September 2014


SHELL AWARDS CAVERTON HELICOPTERS ‘SAFETY CONSCIOUS CONTRACTOR OF THE YEAR’ AWARD

Caverton Offshore Support Group Plc have notified The Nigerian Stock Exchange that in commemorating

75 million Lost Time Injury (LTI) free man-hour, The Production Directorate of Shell Petroleum

Development Company of Nigeria has awarded Caverton Helicopters (a subsidiary of Caverton Offshore

Support Group Plc) the Safety Conscious Contractor of the Year Award.

Caverton was nominated and won the award in the Medium and High Risk category. The justification for

the award according to Shell was that Caverton Helicopters developed safety programs to improve staff

safety culture; raising the bar engagement sessions, Safety Survey and ‘Aim for Zero’ Campaign and

actively ready to learn from previous incidents.

The award ceremony which took place at Shell Port Harcourt was received by the Base Managing Pilot on

behalf of Caverton Helicopters.

Josephine Igbinosun



26 September 2014

UNITY KAPITAL INSURANCE PLC

Submission of Unitykapital Assurance Plc 2013 Audited Account

Unity Kapital Assurance Plc has notified The Exchange that at the meeting of its Board of

Directors held on the 22 September 2014 to consider the draft audited accounts of the company

for the year 2013 it was observed that the performance of the company for 2013 Audited

account fell short of satisfactory explanation by Executive Management. In view of the foregoing,

the Board unanimously resolved as follows:

That the below listed Executive Management staff be suspended with immediate effect:

1. Mr. Kins U. Ekebuike Managing Director/CEO

2. Mr. John A. Oyidih Executive Director (Finance & Administration)

3. Mr. Lawal Mijinyawa Executive Director (Operations)

The Board also set up a special committee to investigate the reasons for the consistent poor

performance of the Company for the past three (3) years. Time frame for this investigation is

three weeks from the date of the Board meeting.

The Board appointed the following to oversee the offices pending the conclusion and submission

of the report by the committee.

1. Mr. Olugbenga Olasogba Acting Managing Director

2. Mr. Michael D. Dogo Acting Executive Director (Operations)

3. Mrs Nkiru T. Achara Acting Executive Director (Human Resources & Administration)

The Board also appointed Ms Halima J. Wushishi as Acting Company Secretary/Legal Adviser.

The National Insurance Commission (NICOM) has also been notified of this development.

JOSEPHINE IGBINOSUN



26 September 2014

FCMB GROUP PLC

Appointment of director

FCMB Group Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Martin Dirks as a

non-executive director of the company.

Mr. Dirks holds over twenty-five (25) years of Senior Management experience in demanding international

and multicultural environments across diverse and highly relevant sectors. In 1989, he established ID-

Drenthe, one of the first active companies in the field of Information Technology providing medium sized

businesses with training programs, consultancy and other IT services.

He served as the Chief Executive Officer of Celtel International (now Bharti Airtel), where the Company

recorded impressive performances during his tenure.

He has also served as CEO of Maxx Management, an investment company in Kazakhstan, focused on

construction, railway infrastructure and maintenance; and of Ukrainian Mobile Communications in the

Ukraine.

Martin is highly experienced in growth scenarios, re-structuring, turnaround and change management. He

has in-depth knowledge of Eastern Europe and stakeholder management.

Josephine Igbinosun



2 October 2014


ETI and Nedbank Group Announce 20 Percent Nedbank Group Shareholding in ETI

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange that Nedbank Group

Limited is to acquire a 20 percent shareholding in ETI. Nedbank Group will subscribe in cash for

4,512,618,890 new ETI shares for USD493.4 million. ETI will repay Nedbank’s loan of USD285 million

granted to ETI in 2011 out of the subscription proceeds. In line with the agreement with ETI, the Nedbank

Group will be afforded the right to representation on the ETI board. The Nedbank Group has nominated its

Chief Operating Officer, Graham Dempster, to join the ETI board and ETI will exercise its reciprocal right to

an appointment on the Nedbank Group board. Both board appointments are subject to regulatory

approvals.

ETI and Nedbank Group established their strategic business alliance in 2008, with the aim of providing

seamless banking services across the continent to each other’s clients. This transaction deepens the

alliance and includes a commitment to reciprocal technical banking expertise and management support.

Together, ETI and Nedbank Group will offer a unique one-bank experience to their clients across the

largest banking network in Africa, comprising more than 2,000 branches and offices in 39 countries.

Nedbank Group is a Johannesburg Stock Exchange (JSE) listed bank holding company with a market

capitalisation of R117.8bn as at 30 June 2014. Its principal banking subsidiary is Nedbank Limited and the

group is 52% majority owned by Old Mutual Plc (Old Mutual) which has a primary listing on the London

Stock Exchange and secondary listings on several African exchanges including the JSE. Old Mutual and ETI

are joint venture partners in insurance in Nigeria. Nedbank Group owns subsidiaries and banks in Namibia,

Swaziland, Malawi, Mozambique, Lesotho, Zimbabwe, Isle of Man, Guernsey and Jersey, and has

representative offices in other Southern Africa countries, including Angola, Kenya and key global financial

centres to provide international banking services for SA-based multinational and high-net-worth clients in

London, Toronto and Dubai (UAE).

Josephine Igbinosun



9 October 2014

DIAMOND BANK PLC

Resignation of Directors

Diamond Bank Plc has notified The Nigerian Stock exchange of the resignation of Ms Ngozi Oluwatoyin

Edozien and Mr. Allan Christopher Michael Low as Non-Executive Directors of the Bank.

The Board of Directors of Diamond Bank Pc at its meeting held on 20th August 2014 accepted the

resignation of the two directors.

Josephine Igbinosun



10 October 2014

INTERNATIONAL BREWERIES PLC

Appointment of New Chief Operating Officer

International Breweries Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Andrew

Ross as the new Chief Operating Officer of the Company. He takes over from Mr. Carlos Gomes effective

from 1 October 2014.

Mr. Ross is a graduate of Accounting and Business Economics with a Master’s Degree in Business

Administration from the Gordon Institute of Business Science. Andrew has significant experience in every

aspect of financial planning, marketing and business development spanning over 20 years.

He held at various times, key managerial positions in the Brewery industry in South Africa and East London

between 1997 - 2010. Andrew became the sales and distribution director for the Zambia Breweries under

the SABMiller group in 2010, a position he held before his appointment as the Chief Operating Officer for

International Breweries Plc.

Josephine Igbinosun



10 October 2014

UNITED BANK FOR AFRICA PLC

Proposed Rights Issue

United Bank for Africa Plc has notified The Nigerian Stock Exchange that it has commenced the process of

raising Tier 1 Capital by way of a Rights Issue. This is further to the Shareholders and Board resolutions

authorising the Bank to raise additional capital by various means, including a Rights Issue.

The Rights Issue, which will be issued to existing shareholders, shall be on the basis of One (1) new

ordinary share for every Ten (10) Ordinary shares held as at a date to be communicated and subject to

regulatory approval.

The Bank will communicate further information on the Proposed Offer to shareholders and other

stakeholders in due course upon receipt of regulatory approval.

Josephine Igbinosun



10 October 2014


Proposed Scheme of Merger between Nigerian Breweries Plc and Consolidated Breweries Plc Nigerian Breweries Plc has notified The Nigerian Stock Exchange that the company has obtained the approval of the Securities & Exchange Commission (SEC) to the scheme for the proposed merger of Nigerian Breweries Plc and Consolidated Breweries Plc. With the approval, the two companies will next approach the Federal High Court for its Order to enable the companies convene their separate general meetings (Court-Ordered Meetings) for the purpose of obtaining the approval of the respective shareholders to the proposed merger. The Scheme of Merger document containing the details of the consideration and other terms of the proposed merger will be sent to the shareholders of the two companies ahead of the Court-Ordered Meeting. Nigerian Breweries Plc will keep The Exchange and other stakeholders informed of further developments particularly on the date and venue of the Court-Ordered Meetings as soon as it obtains the said Order.

Josephine Igbinosun



10 October 2014

NESTLE NIGERIA PLC

Board Meeting notification

Nestle Nigeria Plc has notified The Nigerian Stock Exchange that the company’s Board of Directors will meet on Monday 27 October 2014 to consider the unaudited results of the company for the period ended 30 September 2014. The Company states that the meeting may consider and recommend the payment of interim dividend to the shareholders.

Josephine Igbinosun



13 October 2014

ZENITH BANK PLC

Divestment from Zenith Securities Limited

Zenith Bank Plc has notified The Nigerian Stock Exchange that the Bank has reached an agreement with some investors in respect of the sale and divestment of Zenith Bank’s investment/equity interest in Zenith Securities Limited. Zenith Bank states that it is currently processing necessary approvals with the Securities and Exchange Commission (SEC) for the divestments and expect that baring the occurrence of any unforeseen circumstance, the process will be completed shortly, after which the company’s Particulars of Directors (Co7) at the Corporate Affairs Commission will be updated accordingly.

Josephine Igbinosun



STANBIC IBTC ETF 30 FUND

15 October 2014

NOTICE TO DEALING MEMBERS

All Dealing Members are by this notice informed that the STANBIC IBTC ETF 30 FUND (SIBTC ETF 30 Fund) Initial Public Offer will close on Wednesday 15 October 2014. In compliance with the prospectus to the offer, all returns with respect to this offer should be made within one week from the date of the closure of the offer. Please be guided accordingly. Josephine Igbinosun



LAW UNION & ROCK PLC

15 October 2014

Appointment of an Alternative Director

Law Union and Rock Insurance Plc has notified The Nigerian Stock Exchange that sequel to its

Board of Directors’ meeting held on Tuesday, 30th September 2014; it has approved the

nomination of Messrs Stephen Oluwaseun Dawodu as an Alternative Director to Mr Folarin

Ademola Familusi on the Board of the company effective from 30th September 2014.

Mr. Dawodu Oluwaseun Stephen has over a decade general experience in various highly

dynamic sectors, with responsibility for leading cross-functional teams in various departments of

organisations. Mr. Stephen holds a Higher National Diploma (HND) in Statistics from the

University of Ibadan (1999) before obtaining a B.Sc. in Economics from Ambrose Ali University,

Ekpoma (2005).

He commenced his professional career with Kasad Petroleum Limited as an Accountant between

2000 to 2001 before moving to Swanlux Global Investment Nigeria Limited as an

Accountant/Coordinator (2002 – 2005). He is currently the General Manager (Finance &

Accounts) Swede Control Intertek Limited, Lagos.

From January 2006 to August 2007, Stephen worked with Wise Health Services Limited as Head

Finance & Accounts charged with responsibilities of overseeing the management and operation

of finance and accounts department; reporting to the board on the company’s financials among

others. He later moved to Digital Toll Company Limited as the Financial Controller (2007 – 2010).

He is an Associate Member of the Institute of Chartered Accountants of Nigeria and also an

Associate Member of the Chartered Institute of Taxation of Nigeria.

Josephine Igbinosun




15 October 2014


Seplat Petroleum Development Company Plc has notified The Nigerian Stock Exchange that the company’s board of directors will meet in London on 29th October 2014 at which meeting a decision would be taken to declare an interim dividend. Details of the meeting will be communicated to the market as soon as the company notifies The Exchange. Josephine Igbinosun



TOTAL NIGERIA PLC

15 October 2014


Total Nigeria Plc has notified The Nigerian Stock Exchange that its board of directors will meet on Wednesday 5th November 2014 at the Boardroom, Total House, 4 Churchgate Street, Victoria Island Lagos at 10.00 a.m. Issues relating to declaration of interim dividend, fixing of closure date of register and payment date of the dividend are slated for discussion at the meeting. Josephine Igbinosun



16 October 2014


Notification of Appointment of Finance Controller

Law Union & Rock Insurance Plc has notified The Nigerian Stock Exchange that its Board of

Directors at its meeting held on Tuesday, 30th September 2014, approved the nomination of Mr

Olusola Olasupo Fowora as the Finance Controller/Chief Finance Officer of the Company effective

from 30th September 2014.

Also the Board considered and accepted the resignation of Mr. Ajibola Fadeyi, the former Finance

Controller/Chief Finance Officer with effect from 22nd September 2014.

Josephine Igbinosun



SKYE BANK PLC

16 October 2014

Disclosure of Material Information – Retirement of Non-Executive Director

Skye Bank Plc has notified The Nigerian Stock Exchange of the retirement of Mr. Michael G. Tarfa

from the Board of the Bank as a Non-Executive Director effective 2nd October 2014. This is

following the completion of the maximum 12 years on the Board which is in line with the Central

Bank of Nigeria Code of Corporate Governance 2014.

Until his retirement from the Board, Mr. Tarfa was the Chairman of the Board Credit Committee

and member of the Board Finance & General Purposes, Human Resources and Governance as

well as Nominations Committee.

Josephine Igbinosun



MULTIVERSE PLC

21 October 2014

Joint Venture with Anhui Huishang Metal Corporation Ltd

Multiverse Plc has notified The Nigerian Stock exchange that the company has signed a Joint

Venture Agreement with its Technical Partner, Anhui Huishang Metal Corporation Ltd of China

(AHMCL), a leading Lead and Zinc mining company in China.

The collaboration agreement involves the geological exploration, mine development and

production of Lead and Zinc Ores, non-ferrous metals with worldwide market demand, in one of

its mine properties Exploration License EL 16879 in Abuni, Awe, Local Government of Nasarawa

State.

Multiverse Plc and AHMCL have created a Special Purpose Vehicle (SPV) to explore, develop and

mine the huge deposit of Lead and Zinc ores in the said mine property. AHMCL is committed to

spend about USD111 million (One hundred and eleven million US Dollars) in terms of equipment,

exploration and mine technology over a period of 4 years effective from 2014.

The company has also notified The Exchange that the result of the Resource Study to determine

the Reserve Estimate of Lead and Zinc carried out by the Geological Institute of China will be

made available in due course.

Josephine Igbinosun



PRESCO PLC

21 October 2014

Presco Plc Announces Proposed Rights Issue

Presco Plc announces that it has commenced the process to raise up to N3 billion by way of

Rights Issue following shareholders’ approval at the Annual General Meeting held on 22 July

2014.

The Directors believe that the proposed Rights Issue presents an excellent opportunity for

existing shareholders to increase their investment in the company, which has consistently

recorded impressive results and also paid dividends to its shareholders over the years.

Mr. Uday Pilani, Managing Director of the Company, explained that the Directors have decided to

undertake the Rights Issue to give the Company financial flexibility and reorganise its capital

structure. The net proceeds of the Rights Issue will be used to reduce the Company’s debt and

foreign exchange exposure.

Josephine Igbinosun




21 October 2014

Appointment of Non-Executive Directors

Berger Paints Nigeria Plc has notified The Exchange of the appointment of following; Mr Raj

Mangtani, Mr Adekunle Olowokande and Engr. Patrick Buruche as Non-Executive Directors of the

Company as approved by the Board of Directors of the Company.

Mr Raj S. Mangtani is an Indian by Nationality and holds a Bachelor in Commerce from the

University of Bombay. He is also a member of Indian Professionals, Nigeria.

Mangtani started his professional career with Akzo Nobel in Stenunsungd, Sweden and still the

major principal of the Company till date. In 1985 he joined Emychem, formerly Emmyson Ltd, a

company that deals with the distribution of chemical raw materials in Nigeria/West Africa and

other 20 leading European and American Manufacturers, as Managing Director. A position he

holds till date.

He is a member of Nigerian Institute of Management.

Mr. Adekunle O. Olowokande (ACCA, MA (International Finance). A qualified professional

Accountant, Mr. Olowokande holds HND in Accountancy & Finance from the College of

Technology, Yaba, Lagos ( 1997 – 2000) and obtained a Masters Qualifying Programme from the

Bellerbys College, Hove, UK in 2001. He later obtained MA in International Finance from London

Metropolitan University in 2003 and became ACCA Certified in 2009.

He started his working career with Berger Paints Nigeria Plc as an Assistant to the Cost

Accountant of the Company (2000 – 2001) before moving to A.E.T.C Ltd, a Training Centre in the

United Kingdom (2003 – 2009).

He returned to Berger Paints Nigeria Plc in July 2010 as the Corporate Strategy & Risk Manager,

reporting to the Managing Director with responsibilities for overall business risk assessment and

asset Management, Management and Financial statutory compliance, Qualitative and

Quantitative analysis of strategic business plans and regular liaison with business units and heads.

Engr. Patrick Nnamdi Buruche: Attended The Institute of Management and Technology (IMT)

Enugu where he obtained his National Diploma in Building Engineering (1984 – 1986) before


proceeding to Nnamdi Azikiwe University, Awka from 1992 to 2001 obtaining a Bachelor of

Engineering Degree (B.Engr).

His professional work started with the Anambra State Water Corporation (1998 – 2000) as a

Senior Technical Officer/Assistant Zonal Manager Onitsha Zone. He became the Zonal Manager in

Njikoka/Oyi/Abagana and Ihiala Zones respectively in the same Corporation (2000 – 2001)

Patrick has in the course of his professional career participated in several huge water and

construction projects.

From June 2007 to September 2007, in conjunction with Anambra State Government, he was

among the team of Engineers and Geologists under the European Union assisted Water Supply

and Sanitation Sector Reform Programme. Also in July 2010, he supervised the construction of a

246 meters deep industrial water borehole at Nnewi. From November 2011 – December 2011,

he was Project Engr in the design and Construction of a 4km Ihe-Agbudu erosion Project in Agwu

L .G. A for Anambra-Imo River Basin Development Authority. He has also served as Project

Engineer in the construction of many other projects both in Enugu and Anambra States.

He is currently the Managing Director/Chief Executive Officer of Pangoc Global Services Limited.

JOSEPHINE IGBINOSUN



MRS OIL NIGERIA PLC

21 October 2014

MRS Oil Nigeria Plc – Notice of Board Meeting

MRS Oil Nigeria Plc has notified The Nigerian Stock Exchange that its Board meeting earlier

scheduled for to hold on 30 October 2014 to consider the 3rd quarter unaudited results of the

company has been re-scheduled to 12 November 2014.

This change becomes inevitable to accommodate the Chairman, whose inability to attend

previous board meetings, was observed by shareholders at the last Annual General Meeting of

the Company.

JOSEPHINE IGBINOSUN


Market Bulletin LCU/21 /10/17

BETA GLASS PLC

21 October 2014

Frigoglass to Explore Strategic Options for its Glass Operations

Beta Glass Plc has notified The Exchange that Frigoglass SAIC in Attens, the parent company of

Frigoglass Industries Nigeria Limited, which is the core investor in Beta Glass Plc has announced

that it is commencing an exploratory process relating to strategic options for its Glass business.

The Company holds a market-leading position as a Glass bottle manufacturer in West Africa and

the Middle East, both prime targets for investments by top-tier international beverage brands.

Because of the long-term high growth potential of the glass packaging business and the

Company’s strong position and solid manufacturing base in Nigeria, Frigoglass has been

approached by a variety of investors expressing their interest in a wide range of strategic options,

such as joint ventures, minority participations or even full acquisition of the business.

As such approaches may represent significant value creation potential, the Company has resolved

to evaluate those options in a structured manner and has retained Citigroup Global Markets

Limited as its exclusive financial advisor to this effect.

No assurances can be given that the Company will enter into any transactions as a result of this

process. Frigoglass will not be making any further announcements relating to this process unless

and until this is necessary or appropriate.

JOSEPHINE IGBINOSUN



NIGERIAN AVIATION HANDLING COMPANY PLC

23 October 2014


Nigerian Aviation Handling Company Plc has notified The Nigerian Stock Exchange of the

appointment of Mr. Norbert Bielderman as the Acting Managing Director of the Company

effective 23rd October 2014.

The appointment was done in line with the Company’s succession plan and corporate governance

as the current Managing Director/CEO, Mr. Kayode T. Oluwasegun Ojo whose contract expires on

31st March 2015 is proceeding on leave effective 23rd October 2014.

The Acting Managing Director, Mr. Bielderman, joined the Company as Chief Operating Officer in

May 2010 and rose to become an Executive Director, Operations in December 2013. He is a

tested aviation practitioner with 29 years hands-on experience in ground handling operations,

project management, strategy implementation, logistics chain management amongst others.

JOSEPHINE IGBINOSUN



NIGERIAN AVIATION HANDLING COMPANY PLC

23 October 2014


Nigerian Aviation Handling Company Plc has notified The Nigerian Stock Exchange of the

appointment of Mr. Norbert Bielderman as the Acting Managing Director of the Company

effective 23rd October 2014.

The appointment was done in line with the Company’s succession plan and corporate governance

as the current Managing Director/CEO, Mr. Kayode T. Oluwasegun Ojo whose contract expires on

31st March 2015 is proceeding on leave effective 23rd October 2014.

The Acting Managing Director, Mr. Bielderman, joined the Company as Chief Operating Officer in

May 2010 and rose to become an Executive Director, Operations in December 2013. He is a

tested aviation practitioner with 29 years hands-on experience in ground handling operations,

project management, strategy implementation, logistics chain management amongst others.

JOSEPHINE IGBINOSUN



HONEYWELL FLOUR MILLS PLC

24 October 2014

Appointment of Non-Executive Director

Honeywell Flour Mills Plc has notified The Nigerian Stock Exchange of the appointment of Mr.

Alan Palmer to the Board of the company.

Mr. Palmer has close to 40 years’ experience in the Fast Moving Consumer Goods (FMCG) space;

and brings on board a robust blend of knowledge of the local, regional and international FMGC

industry with a sound appreciation and application of leading practices across key value chain

areas.

Mr. Palmer has worked with global organisations such as Kraft Foods Incorporated, Cadbury Plc

and Trebor Bassett Limited. He was the immediate past Managing Director and CEO of Kraft West

Africa and Cadbury Nigeria Plc and the Managing Director, South-East Asia for Cadbury

Schweppes Plc. He has also held several strategic roles including board positions, locally and

internationally.

JOSEPHINE IGBINOSUN



DIAMOND BANK PLC

24 October 2014

Retirement and Appointment Managing Director

Diamond Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Uzoma

Dozie as its new Group Managing Director/CEO following the voluntary retirement of the Group

Managing Director/Chief Executive Officer, Dr. Alex Otti.

Mr. Dozie’s appointment is subject to the approval of Central Bank of Nigeria (CBN). The Bank

states that Mr. Dozie’s appointment was in recognition of his extensive managerial capabilities

and in consonance with the Bank’s succession strategy and in recognition of Mr. Dozie’s wealth of

banking knowledge.

Dr. Alex Otti, OFR is a 1988 graduate of the University of Port Harcourt where he finished with a

First class honors degree in Economics. He subsequently received an MBA from the University of

Lagos in 1994 as well as honorary Doctorate degrees from Babcock University and the

Universities of Port Harcourt (UNIPORT) and Nigeria (UNN) in 2009, 2012 and 2013 respectively.

Prior to his appointment as the Group Managing Director/CEO of Diamond Bank Plc in March

2011, Dr Otti worked in a number of financial institutions in various capacities. He started from

Nigeria International Bank Limited, a subsidiary of Citibank N.Y. in 1989 and thereafter moved to

United Bank for Africa Plc as Principal Manager and Head, Corporate Banking Sector, South. In

May 2001, he joined First Bank of Nigeria Plc as an Assistant General Manager with responsibility

for the Bank’s Energy Group. In April 2004, he was promoted to Deputy General Manager and in

September 2005, he was appointed Executive Director Commercial Banking. In October 2006, he

was re-designated Executive Director (South), and given the responsibility to oversee the bank’s

businesses in both South-South and South Eastern geo-political zones of Nigeria.

Josephine Igbinosun



GUINNESS NIGERIA PLC

27 October 2014

Retirement and Appointment Managing Director

Guinness Nigeria Plc has notified The Nigerian Stock Exchange that Mr. Seni Adetu will be

stepping down as the company’s Managing Director/Chief Executive Officer in November 2014,

after two and half-years in that position. During his time in the role, he creditably led the business

and successfully completed the expansion project and commenced a major transformation in the

company’s Route-to-Consumer.

Prior to taking up this assignment, Mr. Adetu was the Managing Director of Guinness Ghana

Breweries Ltd; and East African Breweries Ltd where he achieved great success. Having

completed his assignment, he will report to Nick Blazquez, President, Diageo Africa and Asia

starting January 2015.

The Company also announced the appointment of Mr. John O’Keefe as Mr. Adetu’s successor.

Mr. O’Keefe has been in Diageo for over 20 years, and has had a very strong career. He started his

career as a graduate trainee for Guinness Ireland, holding many marketing roles in Ireland before

moving to Jamaica as Marketing Director. Following this, Mr. O’Keeffe and his family moved to

the Nordics where he held his first Managing Director and then moved to Athens where he spent

2 years as the Europe Marketing Director for Johnnie Walker. After this, he became the Managing

Director, Russia and Eastern Europe based in Russia before returning to Ireland to take up his

current role as Global Head of Diageo Innovation and Global Head of Beer & Baileys. Mr O’Keefe

has been a Board member of Guinness Nigeria Plc for the past two years.

Mr. John O’Keefe has a Bachelor of Commerce (Hons) in Economics & Marketing from Cork

University. Given his track record as successful Managing Director in a significant emerging

market, his depth of experience on Guinness stout and across the wider portfolio and the

knowledge he built of Guinness Nigeria Plc, he brings a unique combination of skills to this role.

Mr. O’Keefe will resume in his new role November 2014. To ensure a smooth transition, Mr.

Adetu will work alongside Mr. O’Keefe until the end of December 2014.

Josephine Igbinosun




29 October 2014

Appointment of a New Managing Director

Law Union and Rock Insurance Plc has notified The Nigerian Stock Exchange of the appointment

of Mr. Akinjide Orimolade as its new Managing Director/Chief Executive Officer.

Mr Akinjide Orimolade, a Fellow, Chartered Insurance Institute of Nigeria holds B.Sc. in Insurance

from the University of Lagos (1983 - 87) before obtaining his Masters’ of Science degree in

Marketing from the same Institution (1994 – 1995). He is also an Associate member of the

Chartered Insurance Institute of Nigeria in 2000.

Akinjide started his professional career with Financial Assurance Company Ltd as a

Superintendent Officer (1989 – 1991) before moving to Bullion Insurance Brokers Ltd as a Deputy

Manager (1991 – 1993). He also worked at Central Insurance Company Plc as a Unit Head,

Marketing (1993 – 1994).

Akinjide left the Central Insurance Company to become the Assistant General Manager in

Sovereign Trust Insurance Co. Plc (1995 – 2004) and joined Zenith General Insurance Co. Plc (2004

– 2008) as General Manager/CEO. From April 2008 – December 2009 he moved to South Africa

with to join Liberty Life as the Company Regional Director West Africa.

On relocating back to Nigeria, he joined AIICO General Insurance Co Ltd as Managing

Director/CEO (Dec 2009 – Dec 2011) and from January 2012 – August 2013, he became an

Executive Director Marketing in the same Company.

Mr Orimolade has attended several trainings among which are Oil and Gas – HSBC, United

Kingdom – June, 2017, Global Leadership Centre – Standard Bank, South Africa – October, 2008

and a host of others. He was the Executive Director, Technical in AIICO Insurance Plc before this

appointment.

JOSEPHINE IGBINOSUN



LAFARGE AFRICA PLC

29 October 2014


Lafarge Africa Plc has notified The Nigerian Stock Exchange of the appointment of Mrs Adepeju Adebajo and Anders Kristiansson into the board of Lafarge Africa Plc. Mrs Adebajo is currently the MD WAPCO Operations. Prior to this, she served as the Chief Executive Officer and Managing Director at Mouka Limited. She was already the CEO, UTC Nigeria Plc, where she successfully turned the business around. She previously headed strategic planning, brand management and product development at United Bank for Africa and has had management consulting experience at Boston Consulting Group in the UK and financial analysis experience at Citibank in the UK. Peju holds a Bachelor of Engineering (Chemical Engineering) from the Imperial College of Science & Technology, London; a Master of Engineering (Chemical Engineering) from the University of London; and a Master of Business Administration, Harvard University, Boston. She was appointed to the Board of Lafarge Africa Plc on October 27th 2014. Anders Kristiansson is a Swedish citizen who started his career with Procter & Gamble (P&G) in Scandinavia and thereafter worked for P&G in South Africa. He has been a Global Divisional Controller for Eaton Automotive working in Europe and North America, whereafter he went back to Africa to oversee Celtel's (today Airtel) finance departments across its African operations as Director of Financial Operations. He moved to Nigeria in 2008 as Group CFO for PZ Cussons Nigeria, managing Finance and IT for PZ's five Nigerian companies. Prior to joining Lafarge, he was the CFO for NBC/Coca-Cola HBC's operations in Nigeria. He holds a Master of Science Degree in Business Administration and Economics from the Gothenburg University, Sweden. He was appointed to the Board of Lafarge Africa Plc on October 27th 2014.

Josephine Igbinosun




30 October 2014

CONVERSION OF ETI PREFERENCE SHARES TO ORDINARY SHARES

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange that by a

resolution passed on the 14th September 2011 the Board of Directors of Ecobank Transnational

Incorporated (ETI) approved the acquisition of Oceanic Bank International Plc (Oceanic).

In line with the Terms on Conversion of Preference shares recommended to Oceanic

shareholders by the Oceanic Board as were stated in the Scheme of Arrangement documents and

approved by Oceanic shareholders “The holders of the Preference shares shall have right,

exercisable at any time between the third anniversary of the Issue Date and the fifth anniversary

thereof, to convert their Preference Shares into Ordinary Shares in the Company. Each

Preference Share, upon conversion, shall convert into 0.76923 Ordinary Shares”.

ETI hereby informs that the conversion of the preference shares may be done at any time

between October 31, 2014 and October 31, 2016. Any holder who wishes to convert his/her

Preference shares should forward the following to the Registrars - EDC Registrars’ Limited:

1. CSCS Clearing House number (CHN)

2. The Preference Share Certificate

3. Valid means of Identification

Please contact EDC Registrars’ Limited on +234 (0) 1-4538671-4 or send a mail to

[email protected] for any clarification.

Josephine Igbinosun

mailto:[email protected]



30 October 2014


APPOINTMENT OF DEPUTY CHIEF FINANCIAL OFFICER OF CAVERTON

Caverton Offshore Support Group Plc (COSG) has notified The Nigerian Stock Exchange of the

appointment of Mrs. Titilola Adigun as Deputy Chief Financial Officer of COSG. Her appointment

takes effect from Monday 13 October 2014.

Titilola received her HND Accountancy from the Yaba College of Technology, Lagos and holds a

Master of Business Administration with specialization in International Business from Lagos State

University, Nigeria. She is a member of the Institute of Chartered Accountants of Nigeria and the

Chartered Institute of Taxation of Nigeria. Prior to joining Caverton Offshore Support Group in

2005, Titi worked with the then EIB International Bank Plc (now Skye Bank Plc) in the

Inspectorate, General Inspection & Internal Control department and branch operations of the

bank.

Since joining COSG, Titi has held various management positions of increasing responsibility within

the Group such as Company Accountant, Group Internal Auditor, Tax Manager, Financial

Controller and General Manager, Tax & Internal Audit, COSG.

Josephine Igbinosun



4 November, 2014

MANSARD INSURANCE PLC – 9 MONTHS UNAUDITED RESULTS FOR THE PERIOD ENDED SEPTEMBER 30,

2014

Mansard Insurance Plc has notified The Nigerian Stock Exchange that its September 2014 Management accounts submitted to The Exchange on 31st of October, 2014, contained slight error in the earnings per share figures. The earlier information filed has the earnings per share figures as 6k per share instead of 10k per share. Mansard also stated that the Cashflow Statement had the heading of June 30th 2014 instead of September 30th 2014. The company has therefore requested that the information be replaced with the correct version of the accounts. This has been implemented this morning. Mansard Insurance Plc regrets any inconveniences this mix-up may have caused its investors and other stakeholders. Josephine Igbinosun



6 November, 2014

CUSSONS NIGERIA PLC APOINTMENT OF CHIEF KOLA JAMODU, CFR AS THE CHAIRMAN OF PZ Cussons Nigeria Plc PZ Cussons Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors has appointed Chief Kola Jamodu, CFR as Chairman. This is in succession to Professor Emmanuel Edozien who retired from the Board after Eleven years as the Chairman. Chief Jamodu is assuming the position of Board Chairman with a portfolio of diverse experience from both the private and public sectors. He was an employee of the PZ Cussons group from 1974 and served in Executive positions for 24 years rising to the position of Chairman/Chief Executive Officer until he retired in 1999. He thereafter continued as the Board Chairman until 2001 when he joined the Federal Executive Council as the Minister of Industry. Chief Jamodu is an alumnus of the Harvard Business School, Boston, USA, and a fellow of the

Chartered Institute of Accountants, Nigeria, Fellow of the Chartered Institute of Taxation

Nigeria, Fellow of the Chartered Institute of Management Accountants, London and Fellow of

the Chartered Institute of Secretaries.

He is currently on the Board of Nigerian Breweries Plc as its Chairman, in addition to his

membership of the Boards of United Bank for Africa Plc and Ashaka Cement Company Plc. He

is also the immediate past President of the Manufacturers Association of Nigeria.

The Board of PZ Cussons Plc is convinced that with his appealing credentials Chief Jamodu is

well positioned to provide effective leadership for the Board and that the company will benefit

tremendously from his wealth of experience.

Josephine Igbinosun



7 November, 2014

CADBURY NIGERIA PLC RESIGNATION OF DIRECTOR Cadbury Nigeria Plc has notified The Nigerian Stock Exchange of the resignation of Mr. Ruslan Kinebas, a Non-Executive Director, from the Board of Directors of the Company. The resignation which will take effect from 31 December 2014 was duly noted by the Board of Directors at its meeting of 21 October 2014.

Josephine Igbinosun



DIAMOND BANK PLC

24 November 2014

Carlyle Group Investments in Diamond Bank Plc

Diamond Bank Plc has notified The Exchange that Global Alternative Asset Manager, The Carlyle Group (NASDAQ: CG) through its Carlyle Sub-Saharan Africa Fund, has invested $147 million in Diamond Bank Plc. This investment was made possible through purchase by the company of rights traded on the floor of the Nigerian Stock Exchange in the Bank’s recently completed (NGN 50 billion) rights issue. About The Carlyle Group The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 129 funds and 141 fund of funds vehicles as of September 30, 2014. Carlyle has expertise in various industries, including financial services and employs 1,700 people in 40 offices across six continents. Launched in 2011, The Carlyle Sub-Saharan Africa Fund and its affiliates have invested almost

$300 million to date across a variety of industries, including logistics, mining services, retail and

financial services, and across a variety of geographies, including Nigeria, Mozambique, Zambia,

Tanzania, the Democratic Republic of the Congo and Southern Africa.

Josephine Igbinosun



NIGERIA ENERGY SECTOR FUND

24 November 2014

Audited Accounts for the Year Ended 31 March 2014 The Nigerian Energy Sector Fund has notified The Nigerian Stock Exchange that the Securities and Exchange Commission (SEC) has approved the Audited accounts of the Fund for the year ended 31 March, 2014. The Fund Managers have notified The Exchange that a Coupon of N92.00 per Note has been declared for the same accounting year. Accordingly, the Coupon will be paid out on 3rd December, 2014 to investors in the Fund, whose names appear on the Register of Note holders as at 28th November, 2014.

Josephine Igbinosun



25 November 2014

NOTICE OF DELISTING

On Monday, 23 June 2014, The Nigerian Stock Exchange (The Exchange) published a notice of its

intention to delist 24 listed companies from its Daily Official List, arising from their non-

compliance with provisions of the Listings Rules of The Exchange and pursuant to Clause 15 of the

General Undertaking.

The notice provided a 3 month window for each of the affected listed companies to regularize its listing status with The Exchange. Subsequently, a final delisting notice was published on Tuesday, October 14, 2014. As of today, 1 of the affected companies has fully regularized its listing status. Further, 19 companies have taken some steps to regularize their listing status. The Exchange will continue to engage these 19 companies with a view to bringing them into compliance with their post listing obligations.

However, the 4 companies listed below have failed to take any/or appropriate steps to regularize

their listing status:

1. Pinnacle Point Group Plc 2. Afroil Plc 3. Starcomms Plc 4. Big Treat Plc Therefore, The Exchange has proceeded to delist them, effective Monday, November 24, 2014. Signed Management



25 November 2014

DANGOTE CEMENT PLC

Appointment of Company Secretary/Legal Adviser and Deputy Company Secretary

Dangote Cement Plc has notified The Nigerian Stock Exchange that it has reorganized its Legal

and Company Secretarial Department. In this connection, Mr Mahmud Kazaure, has in addition to

his duties as the Head of Legal Department, been appointed as the Company Secretary/Legal

Adviser.

In addition, Mr Ityoyila Ukpi, hitherto Acting Company Secretary reporting to the Head of the

Legal Department, has now been appointed the Deputy Company Secretary.

JOSEPHINE IGBINOSUN



28 November 2014

OANDO PLC

Suspension of Trading in Rights

Effective today, November 28, 2014, The Nigerian Stock Exchange has suspended further trading

in Oando Rights until further notice.

This action was necessitated by information received yesterday, November 27, 2014, evening

from Vetiva Securities Ltd, the Lead Stockbroker to the Issue, that Oando Plc has not obtained a

formal clearance of the Offer documents and registration of the shares from the Securities and

Exchange Commission.

Please note that the Oando Rights traded to date will be reversed.

JOSEPHINE IGBINOSUN



28 November 2014


Notice of Acquisition of Assur Africa Holding Limited (AAH)

Mansard Insurance Plc has notified The Nigerian Stock Exchange that the principal shareholders

of Mansard Insurance Plc, Assur Africa Holding Limited (AAH), which is made up of Development

Partners International (UK), Africinvest Inc (Tunisia), Netherlands Development Finance Company

(Holland), German Investment Corporation (Germany), French Development Finance Company

(France) and ASPV Limited, are in the process of transferring the ownership of their company

(AAH) to AXA, the world’s largest insurance company.

A Sale and Purchase Agreement (SPA) was executed to this effect on 27 November 2014 and

completion of the process is expected within weeks.

This would mean a change in the beneficial ownership of the 77% of Mansard’s shares (the

majority shareholder) but the legal ownership of the shares does not change.

JOSEPHINE IGBINOSUN



FBN HOLDINGS PLC

28 November 2014

Appointment of Dr Hamzat Sule Wuro Bokki to the Board of FBN Holdings Plc

FBN Holdings Plc has notified The Nigerian Stock Exchange of the appointment of Dr Hamza Sule

Wuro Bokki as an Independent Non-Executive Director (INED) on its Board. This appointment

brings the total number of Directors on the Board of the company to Seven (7) as approved by

the Central Bank of Nigeria, its primary regulator, on 11th November 2014.

Dr Hamza Sule Wuro Bokki, a fellow of Chartered Pension Institute of Nigeria (CPIN) holds a B.Sc.

in Public Administration (First Class) from the University of Maiduguri, Borno State Nigeria (1987

– 1990) before obtaining his Masters in Public Administration (MPA) from the same University

(1991 – 1992). He later acquired his Ph.D. in Public Administration and Policy Analysis from the

University of Abuja (2005 – 2010).

Dr Hamza started his professional career as a Supervisory Councillor for Education with Gombe

Local Government, Gombe State (1991 -1993) before becoming the Vice Chairman and Councillor

Primary Health Care Caretaker Committee, Yalmatu Deba Local Government Gombe State (1994

– 1995).

Between 1996 - 2002, Dr Hamza became the Managing Director Jewel Investment Services

Limited, Gombe while from 2000 – 2003, he joined the Gombe State Investment and Property

Development Company Limited as the Managing Director. He was also the Head, Marketing, APT

Securities & Funds Ltd (2003 – 2006), Managing Director, APT Pension Funds Managers Limited,

and (2006 – 2011). He was also a former Commissioner Ministry of Trade & Investment, Gombe

State.

He is a member of numerous Board Committees in various Companies and has attended several

courses both within and outside Nigeria, among which are; International Symposium on Housing,

by Shelter Afrique, Banjul, Gambia, 2002 and in Nairobi, 2003; Business Investment Forum,

Washington DC, USA - 2003, Making Corporate Boards more effective - a Corporate Governance

Course at Lagos Business School, 2008 among others.

He was the Director NPF Pensions Limited prior to this appointment

Josephine Igbinosun



CADBURY NIGERIA PLC

1 December, 2014

Board Changes at Cadbury Nigeria Plc

Cadbury Nigeria Plc has notified The Nigerian Stock Exchange of the resignation of the following

directors from the board of the company:

1. Mr. Emil Mosikofian, CEO/Managing Director (effective 31st December 2014)

2. Mr. Ruslan Kinebas, non-executive Director (effective 31st December 2014)

The Company also announced the appointments of:

1. Roy Naaman as CEO/Managing Director (effective 1st January 2015)

2. Mr. Romeo Lacerda, as Non-Executive Director (effective 1st January 2015)

The appointments were duly noted at the meeting of the company’s board of directors held on

28 November 2014.

Josephine Igbinosun



2 December, 2014

UNILEVER NIGERIA PLC

Appointment of Finance Director

Unilever Nigeria Plc has notified The Nigerian Stock Exchange of the appointment of Mrs. Adesola Sotande-Peters as the new Finance Director of the Company with effect from 1 January 2014. Mrs Sotande-Peters had her college education at Friends School, Saffron Walden, Essex (1991-1992) passing out with ‘A’ Levels Mathematics, Physics, Chemistry, General Studies. From 1992-1995 she was at The American International University in London, graduating with a BA Business Administration & Economics, Grade Point Average 3.0. In 2000, she became a member, Association of Chartered Certified Accountants, A.C.C.A. Member. (First Time Passes) and in 2006 she became a fellow, Association of Chartered Certified Accountants, A.C.C.A. Mrs Sotande-Peters became a member, Institute of Chartered Accountants of Nigeria (ICAN) in 2007 and in 2008 she obtained MBA for Finance Professionals from Manchester Business School, Manchester, United Kingdom. Mrs. Adesola Sotande-Peters has worked in several organizations as listed below:

November 1995 – December 1997, Sakura Bank, London - Derivative Settlement Clerk

January 1998 – May 1999, Peter Osalor & Co - Accounts Assistant

May 1999 – March 2000, BBC Resources Limited, Property Services - Finance Assistant

April 2000 – April 2001, BBC Resources Limited, Broadcast Engineering - Assistant Management Accountant

April 2001 – December 2002, Informa Group, Llyod’s Maritime Information System – Senior Management Accountant

January 2003 – January 2005, Openwave Systems (Europe) Ltd – Financial Controller for EMEA

March 2005 – May 2007, Guinness Nigeria Plc - Management Accountant

June 2007 – March 2010, Guinness Nigeria Plc – Head of Commercial Finance

March 2010 – June 2012, Kenya Breweries Limited, East African Breweries Ltd – Finance Director

July 2012 – Present, Guinness Cameroon Hub – Finance Director

Mrs. Sotade-Peters is a Finance professional with more than fifteen years of experience in FMCG, telecoms, corporate finance and investor relations. Analytical and logical thinker with a strong background in multinational financial arenas. Proficient in various business applications including MS Windows 98, MS Word 97, PowerPoint 97, Outlook 97, Excel, CS3, SAP/S.

Josephine Igbinosun



2 December 2014

OANDO PLC

Commencement of Trading in Rights

Please be notified that the Trading in Rights of Oando Plc will commence on Wednesday, 3

December 2014 and end on Wednesday 14 January 2015.

Vetiva Securities Ltd, the Lead Stockbroker to the Issue, has notified The Exchange of its receipt

of the formal clearance of the Offer documents and registration of the shares from the Securities

and Exchange Commission.

JOSEPHINE IGBINOSUN



3 December 2014

LAFARGE AFRICA PLC

Notification of Mandatory Tender Offer (MTO) on Ashakacem Plc

Lafarge Africa Plc has notified The Nigerian Stock Exchange of the completion of the block trade

in respect of the 58.61% shareholding in AshakaCem Plc, held by Lafarge Nigeria (UK) Limited to

Lafarge Africa Plc.

This block trade has triggered an MTO, in accordance with Section 131 of the Investments &

Securities Act (No 29 of 2007) and Rule 445 of the Securities & Exchange Commission’s Rules and

Regulations, which requires that a Mandatory Tender Offer be made to all other shareholders of

a public company by any party that acquires 30% or more of the shares in that company.

The Company states that it will announce the terms of the Tender Offer, within a week.

JOSEPHINE IGBINOSUN



3 December 2014


Appointment of Non-Executive Directors

Ecobank Transnational Incorporated (ETI), has notified The Nigerian Stock Exchange of the appointment of four new non-executive directors on its 15-member board, and the retirement of one non-executive director. The new board members are Dolika Banda of Zambia, Graham Dempster of South Africa, Sheila Mmbijjewe of Kenya, and Alain Nkontchou of Cameroon. These new board members collectively bring 120 years of experience in banking and finance to the leadership of the world’s largest pan-African bank. Dolika Banda (Zambia) 51, is an economist and communicator on the African economy. Dolika is an Independent Consultant and Advisor to such clients as the United Nations, Rockefeller Foundation, the Gates Foundation and several governments. Dolika is a former advisor and director at the International Finance Corporation, where she worked for 16 years. She held senior positions at Barclays Bank Zambia and Citibank Zambia. Dolika was recognized with a prize for vision and courage by Africa Femmes Performantes (Africa’s Performing Women) in Washington, DC in 2012. Graham Dempster (South Africa) 59, has over 30 years banking experience. He has held various senior executive positions within the Nedbank Group, including General Manager and Joint Head of UAL Merchant Bank’s Special Finance Division, Head of Nedbank’s International Division and Managing Director of Nedbank Corporate. He has been Chief Operating Officer of Nedbank Group since August 2009, and Joint Chairman – along with current Ecobank Group CEO Albert Essien – of the Ecobank Nedbank Strategic Alliance Committee since its inception in 2008. Graham is well recognized as a driver of talent and a champion of diversity. Sheila Mmbijjewe (Kenya) 56, is a Chartered Accountant (England and Wales) and Certified Public Accountant (Kenya). She is a former finance director at Pricewaterhouse Kenya, Stagecoach International and Standard Chartered Bank of Kenya. Until early 2014, she was also a member of the Monetary Policy Committee of the Central Bank of Kenya. Sheila’s board experience includes directorships on the boards of Transparency International Kenya Chapter, the University of Nairobi Science & Technology Park, and Capital Markets of Kenya. She has also been Vice Chair of the Kenya Women’s Finance Trust. In 1999, Sheila became the first woman to be appointed as an Executive Director of a publicly quoted commercial bank in Kenya. Alain Nkontchou (Cameroon) 51, is Managing Partner of Enko Capital Management LLP, London, an asset management company focusing mostly on African investment opportunities.


He was previously Managing Director, Global Macro Trading Group at Credit Suisse, London, and at JP Morgan Chase & Co. London. Alain has advanced degrees in Electrical Engineering and Finance and Accounting. Alain has a track record of having generated tens of millions of dollars in revenue for the companies with which he has worked. Alain will formally join the ETI Board in June 2015. Following the sale of AMCON shares in ETI, Hewett Benson has retired as a non-executive director, representing AMCON on the board. The board membership of the new directors will be presented for ratification by shareholders at

the next Annual General Meeting in 2015.

Josephine Igbinosun



5 December 2014



Vitafoam Nigeria Plc has notified The Nigerian Stock Exchange that the company’s Board of Directors will meet on Thursday, 18 December 2014 to among others, consider the following items: 1. Approval of audited financial statements for the year ended 30 September 2014 2. Dividend recommendation for the 2014 financial year 3. Closure of Register date 4. Convening of 2015 Annual General Meeting Josephine Igbinosun



5 December 2014

VONO PRODUCTS PLC


Vono Products Plc has notified The Nigerian Stock Exchange that the company’s Board of Directors will meet on Wednesday, 10 December 2014 to among others, consider the following items: 1. Approval of audited financial statements for the year ended 30 September 2014 2. Closure of Register date 3. Convening of 2015 Annual General Meeting Josephine Igbinosun



5 December 2014

OANDO PLC

Oando Energy Resources Announces Completion of the Umugini Pipeline Oando Energy Resources Inc., a subsidiary of Oando Plc has announced the completion of the 45,000bbls/d, 51km Umugini pipeline. The pipeline will provide an alternative evacuation route for crude oil produced from the Ebendo Field through the Trans Forcados export pipeline. Following the successful drilling of Ebendo wells 5, 6, and 7 over the past 12 months, oil production capacity within OML 56 has grown to 7,140boepd gross for OER and Energia Limited the operator of the asset (3,052boepd net to OER). However, export had been constrained at 3,093boepd (1,322boepd OER Share) via the Agip operated Kwale-Brass NAOC/JV infrastructure, in which OER currently has a 20% interest through the recent $1.5Bn acquisition of ConocoPhillips Nigerian Oil & Gas Business. The completion and commencement of operations on the Umugini pipeline ensures that the Ebendo field can now produce at its full capacity. Ebendo is located onshore, in the central Niger Delta approximately 100 km north-west of Port Harcourt and covers an area of 65 km2 (16,062 acres). The License includes two fields, Ebendo (producing) and the Obodeti field (undeveloped). Oando Energy Resources holds a 42.75% working interest on the field. Josephine Igbinosun



5 December 2014


Appointment of Directors Nigerian Breweries Plc has notified The Nigerian Stock Exchange of the appointment of Dr. Obadiah Mailafia. A career economist, banker and international development specialist with over 25 years’ experience; currently Chief of Staff of the 80-member African, Caribbean and Pacific (ACP) Group of States based in Brussels, Belgium. Also an Associate Fellow of the United Nations University Institute for Regional Studies in Bruges, and a Visiting Scholar/Professor at the Faculty of Applied Economics of the Frije Universiteit Brussels (The Free University of Brussels). In his capacity as Chef de Cabinet, he is the most senior advisor to the Secretary-General and coordinates the mainline departments and portfolio of €22 billion of EU funding for ACP countries under the 10th European Development Fund (EDF) and €31.5 billion for the 11th EDF covering the years 2014-2020. He began his career as an academic, teaching in Nigeria, Oxford and London before joining the African Development (ADB) Group in Abidjan and, later, Tunis. He is a recipient of the President Mamoun Beheiry Prize for outstanding contributions to the Bank’s strategic management turnaround and was later appointed Deputy Governor of the Central Bank of Nigeria, with responsibility for economic policy, comprising monetary policy, foreign exchange operations, capital markets, management of foreign reserves, research, statistics, and international institutions. In addition, Dr. Mailafia was responsible for coordinating with the Federal Ministry of Finance and other MDAs on issues of fiscal policy, budgeting, revenue mobilisation and tax administration. He was later transferred from CBN to the Presidency as Special Adviser to the President on Economic and Policy Matters; being also a member of the Economic Management Team (EMT). After he left government he was appointed UNDP Technical Adviser to the Federal Ministry of Agriculture, in which capacity he designed a new financing framework for the agricultural sector, including structuring the $500 million bond for the agriculture sector. Dr. Mailafia was also the Founder/Chairman of the Centre for Policy and Economic Research (CEPER), an independent macroeconomic policy think tank. Graduated top of his class with a B.Sc. Social Sciences Honours degree in Economics, Politics and, Sociology from Ahmadu Bello University, Zaria in 1978. Won a scholarship to France, where he earned the Diplôme (M. Phil equivalent) in International Economics from the IIAP-École national d’administration, Paris. He was subsequently Foreign and Commonwealth Officer Scholar at Oriel


College, Oxford University, where he completed his DPhil (doctor of philosophy) specialising in Economics of Development/International Relations. Dr. Mailafia has excellent analytical, leadership and administrative skills and speak fluent English and French, with elementary Portuguese, Arabic, German and Spanish. Josephine Igbinosun



5 December 2014


Appointment of Director Nigerian Breweries Plc has notified The Nigerian Stock Exchange of the appointment of Mrs. Ndidi O. Nwuneli (MFR) Mrs. Nwuneli graduated from Wharton School, University of Pennsylvania at 20 and got her MBA at 23 from the Harvard Business School. Following her early years as a management consultant with McKinsey & Company, Ndidi returned to Nigeria to fulfil her passion of promoting entrepreneurship and leadership development. She served as the pioneer executive director of the FATE Foundation from 2000, and then established LEAP Africa and NIA in 2002 and 2003 respectively. NIA empowers female university students to achieve their highest potential in life while LEAP Africa provides leadership, ethics and management training and coaching for youth, business owners, social entrepreneurs and the public sector. LEAP also conducts leadership research and has published numerous books including: Defying the Odds: Case Studies of Nigerian Companies that have Survived Generations, A Toolkit for Business Leadership, Get on Board: A practical guide to building High-impact Boards of Directors, Rage for Change: A Practical Guide for Young Nigerians who Desire to Make a Difference and Building a Culture of Ethics: A Practical Guide for Leaders in the African Public, Private and Non-Profit Sectors. Ndidi is also the managing partner of the African Alliance for Capital Expansion (AACE) and has provided policy, start-up and advisory services to the World Bank, IFC, DFID, Ford Foundation, Oxfam International, UCAD, and the Center for Middle East Competitive Strategy, the Nigerian Ministry of Education and the Ministry of Youth Development. Ndidi has received numerous honors and awards. In 2003 she was recognized as a Global Leader of Tomorrow and Young Global Leader by the World Economic Forum in Davos, Switzerland. Ndidi was recognized as the Young Manager of the Year 2005 by THISDAY Newspapers. She has also received a National Honor, Member of the Federal Republic, from the President of the Federal Republic of Nigeria and an Excellence Award from the Africa Business Club at Harvard Business School in 2007 Josephine Igbinosun



5 December 2014


Appointment of Director Nigerian Breweries Plc has notified The Nigerian Stock Exchange of the appointment of Mrs. Ndidi O. Nwuneli (MFR) Ndidi Nwuneli is the Founder of LEAP Africa, Co-Founder of AACE Food Processing & Distribution, an

indigenous agro processing company, and a partner at Sahel Capital, an advisory and private equity firm

focused on the agribusiness sector in West Africa. She has 19 years of experience in international

development and has worked and lived in West Africa, North America and the Middle East.

Ndidi started her career as a management consultant with McKinsey & Company, working in their Chicago,

New York and Johannesburg Offices. In 2000, she returned to Nigeria to serve as the pioneer executive

director of the FATE Foundation, a leading entrepreneurship development organization. She established

LEAP Africa and NIA in 2002 and 2003 respectively. LEAP is a respected leadership development

organization that has worked across Nigeria providing leadership training, and coaching to thousands of

entrepreneurs, youth, teachers and community organizers. LEAP has also pioneered curriculum and

published ten books on succession, ethics, governance and management. NIA empowers female university

students in the Southeastern Nigeria to achieve their highest potential.

Ndidi holds an M.B.A. from Harvard Business School (Class of 1999) and an undergraduate degree with

honors in Multinational and Strategic Management from the Wharton School of the University of

Pennsylvania.

Ndidi was recognized as a Young Global Leader by the World Economic Forum and received a National

Honor – Member of the Federal Republic from the Nigerian Government. In 2011, she was listed as one of

the 20 Youngest Power African Women by Forbes. In 2013, she was honored by the Global Fund for

Women during their 25th Anniversary Celebration in San Francisco. She serves on numerous international

and local boards including Nestle Nigeria, Cornerstone Insurance and USAID's Advisory Committee on

Voluntary Foreign Aid.

JOSEPHINE IGBINOSUN



5 December 2014

SIM CAPITAL ALLIANCE VALUE FUND

African Capital Alliance Buys out Sanlam’s Stake in SIM Capital Alliance The Board of SIM Capital Alliance Limited (SIMCAP) has announced the buyout of Sanlam Investment Management’s (Sanlam) ownership interest in SIMCAP by African Capital Alliance Holdings Limited (ACAHL). The transaction, which has been approved by the Securities and Exchange Commission, is a result of Sanlam’s decision to streamline its hitherto multiple strategic interests in Nigeria and ACAHL’s desire to increase its commitment to the Asset Management business in Nigeria. About ACAH ACAHL is a member of the ACA Group, a leading indigenous private equity group focused on investments in Nigeria and West Africa, which has till date, raised over US$700 million, recording significant returns on investments on exits. ACAHL was incorporated in 2007 and holds interests in real estate, hospitality and financial sectors. About SIMCAP SIM Capital Alliance Ltd ("SIMCAP") is an SEC registered Fund/Portfolio manager, providing investment management and advisory services to institutional investors and individuals. SIMCAP manages the SIM Capital Alliance Value Fund ("Value Fund"), a closed ended collective investment scheme listed on the Nigerian Stock Exchange with an objective to achieve long-term capital growth. About the Sanlam Group Sanlam is a leading financial services group listed on the JSE Limited and the Namibian Stock Exchange. Established in 1918 as a life insurance company, the South Africa-based Sanlam Group has transformed into a diversified financial services business. Through its four business clusters – Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments and Santam the Group provides comprehensive and tailored financial solutions to individual and institutional clients across all market segments. The Group’s areas of expertise include insurance, financial planning, retirement, trusts, wills, short-term insurance, asset management, risk management and capital market activities, investment and wealth. The Group operates in South Africa, Botswana, Swaziland, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana, Nigeria, India, Malaysia and the United Kingdom and has business interests in the USA, Australia and the Philippines. It has a stake in leading global micro-insurance specialists, UK-based Micro-Ensure Holdings Limited, which has a footprint across Africa and India servicing more than 10 million enrolled clients. Josephine Igbinosun



8 December 2014

LAFARGE AFRICA PLC

Notification of Mandatory Tender Offer on AshakaCem Plc

Further to our market bulletin of 3 December 2014 with respect to the Mandatory Tender Offer

(MTO) by Lafarge Africa Plc to holders of ordinary shares of AshakaCem Plc, please be notified

that Lafarge Africa is launching a Tender offer to acquire up to 927,008,865 ordinary shares in

AshakaCem Plc (representing 41.39% of the issued and paid up capital of AshakaCem Plc) not

currently held by the Company.

It will be recalled that Lafarge Africa Plc after acquiring 58.61% shareholding in AshakaCem Plc

triggered an MTO in accordance with Section 131 of the Investments and Securities Act (No 29 of

2007) and Rule 445 of the Securities & Exchange Commission’s Rules and Regulations, which

requires that a Mandatory Tender Offer be made to all other shareholders of a public company

by any party that acquires 30% or more of the shares in that company.

The MTO is expected to commence on Wednesday, 10 December 2014 and close at 5.00 p.m. 16

January 2015. Shareholders whose names appear on the register of members of AshakaCem Plc

as at the close of business, 9 December 2014 will qualify for the MTO. Qualifying Shareholders,

who accept the Offer, will receive 57 ordinary shares in Lafarge Africa Plc for every 202 ordinary

shares in AshakaCem Plc, so tendered. An additional cash payment of N2.00 (Two Naira), net of

any applicable tax, per ordinary share taken up by Lafarge Africa during the Acceptance Period

will be made to accepting shareholders.

JOSEPHINE IGBINOSUN



10 December 2014


Ecobank Transnational Incorporated receives USD 200,000,000 Senior Unsecured Loan Facility Ecobank Transnational Incorporated, ETI, the Lome-based parent company of the Ecobank Group, has announced the receipt of a one-year, senior unsecured loan facility of USD 200,000,000 from Deutsche Bank AG. On the 17th November 2014, Ecobank appointed Deutsche Bank to be the Initial Mandated Lead Arranger, Bookrunner and Facility Agent to arrange this financing. On Tuesday 9th December 2014, Deutsche Bank AG successfully closed primary syndication with an oversubscribed order book of USD 230,000,000. The final size of the facility was maintained at USD 200,000,000. This transaction reflects Deutsche Bank’s strong distribution platform and rapid execution capabilities in challenging market conditions. The facility will be used for general corporate purposes. Josephine Igbinosun



10 December 2014

NPF MICROFINANCE BANK PLC

Appointment of Acting Chairman NPF Microfinance Bank Plc has notified The Nigerian Stock Exchange of the retirement of Mrs. F.O. Adebanjo as the Chairman of the Bank in accordance with the provisions of the Bank’s Articles of Association having served for nine (9) years. Following her retirement, Mr. Usman Isa Baba has been appointed by the Board of Directors to fill the vacuum in acting capacity pending the appointment of a substantive Chairman. The resignation of Mrs. Adebanjo and the appointment of Mr. Baba was approved by the Bank’s Board at its meeting held on 7th December 2014. Josephine Igbinosun



12 December 2014


Appointment of Director Berger Paints Nigeria Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Sanjay Datwani as director of the company. Born on February 6, 1973, Mr. Sanjay Datwani had his early education at University College School, Hampstead, London (1983 – 1989) and obtained his BA in Business Administration at Boston University, Boston Massachusetts USA (1989 – 1993). Mr. Datwani started his career at Goodmann Mann Associates – Piccadilly, London as Intern Property Managing Agents (January 1993 – January 1994). From January 1994 - present he has been the Managing Director, Clayton Finance Limited. Mr. Datwani’s property investments include:

Hilton Double Tree Hotel 200 rooms, Bath Road, Heathrow Airport

Portfolio of 30 Booker Plc food stores sale and leaseback

Residential developments Birmingham 54 apartments and 10 Houses

Student accommodation schemes Birmingham and Dundee Scotland

Marriot Hotel 143 rooms, Cheshunt, Hertfordshire

Distribution warehouse let to Dreams Plc, Midlands

Mixed retail scheme, Tottenham Ct Road, Central London Mr. Datwani is currently a volunteer at Sadhu Vaswani Centre (charitable religious organization) in London. Josephine Igbinosun



15 December, 2014


Notice of Acquisition of Assur Africa Holding Limited (AAH)

Further to our market bulletin of 28 November 2014 on the above captioned Mansard Insurance

Plc has notified The Nigerian Stock Exchange that the process of transferring the ownership of

Assur Africa Holding Limited (AAH) to AXA was completed on 8 December 2014.

In view of the acquisition of AAH, the beneficial ownership of the 77% of Mandard’s shares (the

majority shareholder) has changed to AXA while the legal ownership of the shares will not

change.

JOSEPHINE IGBINOSUN



15 December, 2014


Notice of proposed Acquisition of PFA

Mansard Insurance Plc has notified The Nigerian Stock Exchange that the company would be

acquiring 60% of the issued and paid up share capital of a Pension Fund Administrator (PFA)

known as Penman Pensions Limited and intends to run and operate the PFA as its subsidiary in

the Pension Industry.

Mansard informs that it is in the process of completing the transaction and have obtained

regulatory approvals from the Pension Commission, the National Insurance Commission and the

Securities and Exchange Commission.

JOSEPHINE IGBINOSUN



15 December, 2014


Notice of proposed Acquisition of PFA

Mansard Insurance Plc has notified The Nigerian Stock Exchange that the company would be

acquiring 60% of the issued and paid up share capital of a Pension Fund Administrator (PFA)

known as Penman Pensions Limited and intends to run and operate the PFA as its subsidiary in

the Pension Industry.

Mansard informs that it is in the process of completing the transaction and have obtained

regulatory approvals from the Pension Commission, the National Insurance Commission and the

Securities and Exchange Commission.

JOSEPHINE IGBINOSUN

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